International Assets Investment Management LLC Takes $1.61 Million Position in Global Partners LP (NYSE:GLP)

International Assets Investment Management LLC purchased a new stake in Global Partners LP (NYSE:GLP - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,079 shares of the energy company's stock, valued at approximately $1,611,000. International Assets Investment Management LLC owned approximately 0.11% of Global Partners as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of Global Partners by 1.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 41,874 shares of the energy company's stock valued at $1,479,000 after acquiring an additional 443 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Global Partners by 0.3% in the 3rd quarter. Royal Bank of Canada now owns 180,659 shares of the energy company's stock valued at $6,381,000 after acquiring an additional 520 shares in the last quarter. Raymond James Trust N.A. lifted its position in shares of Global Partners by 4.2% in the 1st quarter. Raymond James Trust N.A. now owns 13,515 shares of the energy company's stock valued at $369,000 after acquiring an additional 546 shares in the last quarter. Cetera Advisors LLC lifted its position in shares of Global Partners by 3.4% in the 4th quarter. Cetera Advisors LLC now owns 17,447 shares of the energy company's stock valued at $607,000 after acquiring an additional 573 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Global Partners by 2.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 25,701 shares of the energy company's stock valued at $797,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 38.12% of the company's stock.

Global Partners Stock Up 1.3 %

Global Partners stock traded up $0.57 during trading hours on Friday, hitting $46.10. The company had a trading volume of 57,137 shares, compared to its average volume of 68,963. The firm's fifty day moving average is $46.29 and its 200-day moving average is $40.79. Global Partners LP has a fifty-two week low of $27.07 and a fifty-two week high of $49.50. The firm has a market capitalization of $1.56 billion, a P/E ratio of 12.26 and a beta of 1.35. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.12 and a quick ratio of 0.71.

Global Partners (NYSE:GLP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $0.96 by $0.45. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. On average, research analysts forecast that Global Partners LP will post 3.9 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 8th were paid a dividend of $0.70 per share. This is a positive change from Global Partners's previous quarterly dividend of $0.69. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $2.80 annualized dividend and a dividend yield of 6.07%. Global Partners's dividend payout ratio is 74.47%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GLP shares. Stifel Nicolaus upped their price objective on shares of Global Partners from $40.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, December 27th. StockNews.com upgraded shares of Global Partners from a "hold" rating to a "buy" rating in a research note on Wednesday, March 13th.

Global Partners 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.