Global Partners LP (NYSE:GLP) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,767 shares of the energy company's stock after selling 10,397 shares during the quarter. Wells Fargo & Company MN owned approximately 0.23% of Global Partners worth $3,574,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its holdings in Global Partners by 4,555.0% during the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock worth $270,863,000 after purchasing an additional 5,693,750 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Global Partners in the 4th quarter valued at about $6,510,000. JPMorgan Chase & Co. increased its holdings in shares of Global Partners by 53.8% in the 4th quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock valued at $5,044,000 after acquiring an additional 37,893 shares during the last quarter. NBW Capital LLC purchased a new position in shares of Global Partners in the 4th quarter valued at about $2,431,000. Finally, ING Groep NV purchased a new position in shares of Global Partners in the 4th quarter valued at about $1,536,000. Hedge funds and other institutional investors own 38.12% of the company's stock.

Insider Activity at Global Partners

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 41.50% of the company's stock.

Global Partners Stock Performance

Shares of NYSE GLP traded up $0.21 during trading hours on Monday, reaching $52.08. The stock had a trading volume of 18,776 shares, compared to its average volume of 78,096. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 15.73 and a beta of 1.16. 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. The firm has a 50-day moving average of $53.02 and a 200-day moving average of $51.74.

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 5.72%. Global Partners's dividend payout ratio is 123.14%.

Wall Street Analyst Weigh In

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

About Global Partners

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.