MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 4.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,609,112 shares of the energy company's stock after purchasing an additional 64,901 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 4.73% of Global Partners worth $74,904,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC lifted its holdings in shares of 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 period. Raymond James Financial Inc. acquired a new stake in shares of Global Partners in the fourth quarter valued at $6,510,000. JPMorgan Chase & Co. lifted its holdings in shares of Global Partners by 9,171.6% in the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock valued at $3,281,000 after buying an additional 69,704 shares during the period. NBW Capital LLC acquired a new stake in shares of Global Partners in the fourth quarter valued at $2,431,000. Finally, ING Groep NV acquired a new stake in shares of Global Partners in the fourth quarter valued at $1,536,000. Institutional investors own 38.12% of the company's stock.
Global Partners Trading Down 1.9%
Shares of Global Partners stock traded down $0.96 on Friday, reaching $49.27. 56,012 shares of the company were exchanged, compared to its average volume of 75,183. The stock has a fifty day moving average price of $51.15 and a 200-day moving average price of $52.00. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 14.89 and a beta of 1.02. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. Global Partners LP has a fifty-two week low of $37.00 and a fifty-two week high of $60.00.
Global Partners (NYSE:GLP - Get Free Report) last announced its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.39. The company had revenue of $4.59 billion for the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a return on equity of 22.07% and a net margin of 0.82%. On average, analysts expect that Global Partners LP will post 2.13 EPS for the current year.
Global Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a yield of 6.05%. This is a positive change from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 9th. Global Partners's payout ratio is presently 94.60%.
Insider Activity at Global Partners
In related news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now directly owns 156,198 shares of the company's stock, valued at approximately $8,444,063.88. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.50% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus lowered Global Partners from a "buy" rating to a "hold" rating and boosted their target price for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.
View Our Latest Report on GLP
Global Partners Company Profile
(
Free Report)
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.
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