Global Partners LP (NYSE:GLP) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in Global Partners LP (NYSE:GLP - Free Report) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,471 shares of the energy company's stock after selling 9,675 shares during the period. First Trust Advisors LP owned about 0.22% of Global Partners worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GLP. JPMorgan Chase & Co. grew its stake in shares of Global Partners by 9,171.6% during the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock worth $3,281,000 after purchasing an additional 69,704 shares in the last quarter. Albert D Mason Inc. boosted its position in shares of Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock worth $253,000 after acquiring an additional 575 shares in the last quarter. ING Groep NV acquired a new position in shares of Global Partners during the 4th quarter worth about $1,536,000. Proficio Capital Partners LLC increased its holdings in shares of Global Partners by 4,555.0% in the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock valued at $270,863,000 after acquiring an additional 5,693,750 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Global Partners during the 4th quarter worth about $330,000. Hedge funds and other institutional investors own 38.12% of the company's stock.

Insider Buying and Selling

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the firm's stock in a transaction on Friday, March 21st. The shares were 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. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 41.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Global Partners Price Performance

Shares of GLP opened at $51.37 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The stock has a market cap of $1.75 billion, a PE ratio of 15.52 and a beta of 1.16. The firm has a fifty day moving average price of $52.44 and a 200 day moving average price of $51.82.

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 given a $0.745 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.80%. Global Partners's dividend payout ratio is 123.14%.

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.

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