Global Partners LP (NYSE:GLP) Stock Position Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC grew its holdings in shares of Global Partners LP (NYSE:GLP - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,601,904 shares of the energy company's stock after purchasing an additional 119,924 shares during the period. Global Partners makes up about 3.6% of Pallas Capital Advisors LLC's portfolio, making the stock its 2nd biggest holding. Pallas Capital Advisors LLC owned about 4.71% of Global Partners worth $85,510,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its stake in Global Partners by 4,555.0% in the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock valued at $270,863,000 after buying an additional 5,693,750 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Global Partners in the 4th quarter worth approximately $6,510,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Global Partners by 4.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company's stock worth $74,904,000 after purchasing an additional 64,901 shares during the last quarter. NBW Capital LLC acquired a new position in Global Partners during the 4th quarter valued at approximately $2,431,000. Finally, JPMorgan Chase & Co. increased its stake in Global Partners by 53.8% during the 4th quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock valued at $5,044,000 after purchasing an additional 37,893 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company's stock.

Global Partners Stock Performance

NYSE GLP traded up $0.39 on Monday, hitting $54.03. 71,070 shares of the company's stock traded hands, compared to its average volume of 72,634. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm's 50-day moving average price is $50.42 and its two-hundred day moving average price is $52.31. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The firm has a market capitalization of $1.84 billion, a PE ratio of 16.32 and a beta of 1.05.

Global Partners (NYSE:GLP - Get Free Report) last posted its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.39. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. As a group, analysts expect that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were paid a $0.745 dividend. The ex-dividend date was Friday, May 9th. This is a positive change from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 dividend on an annualized basis and a yield of 5.52%. Global Partners's dividend payout ratio (DPR) is currently 94.60%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered shares of Global Partners from a "buy" rating to a "hold" rating and boosted their price objective for the company from $54.00 to $56.00 in a report on Tuesday, March 4th.

Insider Buying and Selling

In other news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the completion of the sale, the chief operating officer now directly owns 156,198 shares in the company, valued at $8,444,063.88. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 41.50% of the stock is currently owned by insiders.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.