GSA Capital Partners LLP Increases Holdings in Global Partners LP $GLP

Key Points

• GSA Capital Partners LLP boosted its stake in Global Partners LP by 185.9% in the fourth quarter, holding 30,850 shares worth about $1.29 million.
• Global Partners reported better-than-expected earnings of $1.85 per share for the latest quarter, far above the $0.33 consensus estimate, even though revenue missed forecasts.
• The partnership raised its quarterly dividend to $0.765 per share, implying an annualized yield of about 5.9%; meanwhile, analysts’ consensus rating remains Moderate Buy with a $46 target.

GSA Capital Partners LLP increased its holdings in shares of Global Partners LP (NYSE:GLP - Free Report) by 185.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,850 shares of the energy company's stock after purchasing an additional 20,060 shares during the period. GSA Capital Partners LLP owned 0.09% of Global Partners worth $1,291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GLP. International Assets Investment Management LLC acquired a new position in Global Partners in the 4th quarter worth $41,000. Earned Wealth Advisors LLC acquired a new position in Global Partners in the 4th quarter worth $219,000. Leo Wealth LLC lifted its holdings in Global Partners by 45.0% in the 4th quarter. Leo Wealth LLC now owns 14,500 shares of the energy company's stock worth $607,000 after buying an additional 4,500 shares in the last quarter. Gilman Hill Asset Management LLC lifted its holdings in Global Partners by 10.1% in the 4th quarter. Gilman Hill Asset Management LLC now owns 47,982 shares of the energy company's stock worth $2,008,000 after buying an additional 4,390 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Global Partners by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company's stock worth $18,685,000 after buying an additional 55,304 shares in the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Global Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Global Partners from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Stifel Nicolaus boosted their price objective on shares of Global Partners from $45.00 to $46.00 and gave the stock a "hold" rating in a report on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of Global Partners from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Global Partners has an average rating of "Moderate Buy" and a consensus price target of $46.00.

Global Partners Stock Performance

Shares of Global Partners stock opened at $51.72 on Thursday. The firm has a market cap of $1.76 billion, a PE ratio of 14.37 and a beta of 1.04. The firm's 50-day simple moving average is $46.78 and its 200-day simple moving average is $45.48. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12. Global Partners LP has a 1 year low of $39.58 and a 1 year high of $56.51.

Global Partners (NYSE:GLP - Get Free Report) last issued its earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $1.52. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $6.98 billion. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. Equities analysts forecast that Global Partners LP will post 4.71 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were paid a $0.765 dividend. This is a boost from Global Partners's previous quarterly dividend of $0.76. The ex-dividend date was Monday, May 11th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.9%. Global Partners's dividend payout ratio (DPR) is currently 85.00%.

Insider Activity

In other news, COO Mark Romaine sold 2,020 shares of the company's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $48.19, for a total value of $97,343.80. Following the sale, the chief operating officer owned 141,609 shares in the company, valued at approximately $6,824,137.71. This represents a 1.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 24,063 shares of company stock valued at $1,146,471. Corporate insiders own 41.50% of the company's stock.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.

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