Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Global Partners LP (NYSE:GLP – Get Rating) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 259,859 shares of the energy company’s stock, valued at approximately $9,035,000.
A number of other hedge funds also recently bought and sold shares of GLP. Fifth Third Bancorp purchased a new position in shares of Global Partners during the fourth quarter worth approximately $28,000. Financial Management Professionals Inc. purchased a new stake in Global Partners during the fourth quarter valued at about $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Global Partners during the fourth quarter valued at about $34,000. Credit Suisse AG purchased a new position in shares of Global Partners in the second quarter worth about $67,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Global Partners by 15.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,300 shares of the energy company’s stock valued at $80,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 28.40% of the company’s stock.
Global Partners Trading Down 4.5 %
Shares of GLP opened at $30.44 on Monday. The stock has a market capitalization of $1.03 billion, a P/E ratio of 3.05 and a beta of 1.28. Global Partners LP has a twelve month low of $20.23 and a twelve month high of $39.24. The company has a quick ratio of 0.73, a current ratio of 1.23 and a debt-to-equity ratio of 1.69. The firm has a fifty day simple moving average of $30.37 and a two-hundred day simple moving average of $32.56.
Global Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Tuesday, May 9th were issued a dividend of $0.609 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 8.00%. Global Partners’s dividend payout ratio is presently 26.28%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com started coverage on Global Partners in a research note on Thursday. They issued a “buy” rating on the stock.
Global Partners Profile
Global Partners LP engages in purchasing, selling, storing, and the logistics of transporting petroleum and related products. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors.
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