First Trust Advisors LP Lowers Stock Holdings in Global Partners LP (NYSE:GLP)

First Trust Advisors LP cut its holdings in Global Partners LP (NYSE:GLP - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,471 shares of the energy company's stock after selling 9,675 shares during the quarter. First Trust Advisors LP owned approximately 0.22% of Global Partners worth $3,467,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. United Capital Financial Advisors LLC lifted its holdings in shares of Global Partners by 1.5% in the 4th quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company's stock valued at $720,000 after buying an additional 226 shares during the period. US Bancorp DE increased its stake in shares of Global Partners by 54.1% in the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock valued at $66,000 after purchasing an additional 500 shares in the last quarter. Albert D Mason Inc. grew its holdings in Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after purchasing an additional 575 shares during the period. Virtu Financial LLC acquired a new position in shares of Global Partners during the 4th quarter worth approximately $288,000. Finally, XTX Topco Ltd acquired a new stake in Global Partners in the 4th quarter valued at $302,000. 38.12% of the stock is owned by institutional investors.

Global Partners Price Performance

Shares of Global Partners stock traded down $0.15 during trading hours on Friday, reaching $47.16. 13,381 shares of the company's stock were exchanged, compared to its average volume of 75,349. The business has a fifty day moving average of $51.83 and a two-hundred day moving average of $51.90. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $1.60 billion, a P/E ratio of 14.25 and a beta of 1.02. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00.

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

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 9th will be issued a $0.745 dividend. This is a boost from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date is Friday, May 9th. This represents a $2.98 annualized dividend and a yield of 6.32%. Global Partners's dividend payout ratio (DPR) is 123.14%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus downgraded shares of Global Partners from a "buy" rating to a "hold" rating and upped their price target for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, COO Mark Romaine sold 2,195 shares of the firm's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following the sale, the chief operating officer now owns 156,198 shares of the company's stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.50% of the stock is currently owned by company 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.