Stifel Financial Corp Has $884,000 Stock Holdings in Global Partners LP (NYSE:GLP)

Stifel Financial Corp lessened its position in shares of Global Partners LP (NYSE:GLP - Free Report) by 40.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,980 shares of the energy company's stock after selling 12,770 shares during the period. Stifel Financial Corp owned 0.06% of Global Partners worth $884,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GLP. Proficio Capital Partners LLC increased 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 purchasing an additional 5,693,750 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Global Partners during the 4th quarter worth $6,510,000. JPMorgan Chase & Co. grew its holdings in Global Partners by 9,171.6% during the 3rd 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 last quarter. NBW Capital LLC purchased a new position in Global Partners during the fourth quarter worth about $2,431,000. Finally, ING Groep NV acquired a new position in Global Partners during the fourth quarter valued at approximately $1,536,000. Institutional investors own 38.12% of the company's stock.

Global Partners Stock Performance

GLP stock traded up $1.98 during trading hours on Tuesday, reaching $48.62. The stock had a trading volume of 47,477 shares, compared to its average volume of 75,956. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The stock has a market capitalization of $1.65 billion, a PE ratio of 14.69 and a beta of 1.02. The stock has a 50-day simple moving average of $51.53 and a 200 day simple moving average of $51.97. 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 issued its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.39. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Friday, May 9th will be given a $0.745 dividend. 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 dividend yield of 6.13%. The ex-dividend date of this dividend is Friday, May 9th. Global Partners's dividend payout ratio is presently 94.60%.

Insider Activity

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the company'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 completion of the transaction, the chief operating officer now directly owns 156,198 shares in the company, valued at approximately $8,444,063.88. This represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 41.50% of the company's stock.

Analyst Upgrades and Downgrades

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

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.