GSA Capital Partners LLP Makes New $379,000 Investment in Global Partners LP $GLP

Key Points

• GSA Capital Partners acquired 52,283 shares of Global Partners worth approximately $379,000, while institutional investors collectively own 38.12% of the company.
• Global Partners reported quarterly EPS of $1.86, beating estimates of $1.24, although revenue of $6.79 billion fell short of the $7.51 billion consensus forecast.
• The company raised its quarterly dividend to $0.78, or $3.12 annually, implying a 6.2% yield; analysts maintain a consensus “Hold” rating with a $46 price target.

GSA Capital Partners LLP bought a new position in Global Partners LP (NYSE:GLP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 52,283 shares of the energy company's stock, valued at approximately $379,000. GSA Capital Partners LLP owned approximately 0.15% of Global Partners as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. McMillan Office Inc. purchased a new stake in Global Partners in the fourth quarter worth $29,000. Garton & Associates Financial Advisors LLC purchased a new position in Global Partners during the fourth quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $41,000. PNC Financial Services Group Inc. bought a new stake in shares of Global Partners during the 3rd quarter valued at $48,000. Finally, Smartleaf Asset Management LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $85,000. 38.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GLP shares. Weiss Ratings upgraded shares of Global Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of Global Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Global Partners from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Global Partners has a consensus rating of "Hold" and a consensus price target of $46.00.

Global Partners Stock Down 0.6%

GLP stock opened at $50.28 on Friday. The business has a 50 day moving average of $48.01 and a 200 day moving average of $47.67. The firm has a market cap of $1.71 billion, a PE ratio of 10.24 and a beta of 1.01. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $53.25. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44.

Global Partners (NYSE:GLP - Get Free Report) last released its earnings results on Friday, August 7th. The energy company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.24 by $0.62. Global Partners had a return on equity of 30.87% and a net margin of 0.91%.The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $7.51 billion. On average, research analysts forecast that Global Partners LP will post 5.87 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 10th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, August 10th. This is a positive change from Global Partners's previous quarterly dividend of $0.77. Global Partners's dividend payout ratio (DPR) is presently 63.54%.

Global Partners Company Profile

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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