Moors & Cabot Inc. Lowers Position in Global Partners LP (NYSE:GLP)

Moors & Cabot Inc. decreased its stake in shares of Global Partners LP (NYSE:GLP) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,425 shares of the energy company’s stock after selling 500 shares during the period. Moors & Cabot Inc. owned 0.07% of Global Partners worth $751,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Clear Street Markets LLC acquired a new stake in shares of Global Partners during the 1st quarter worth $28,000. Financial Management Professionals Inc. acquired a new stake in Global Partners during the second quarter worth about $30,000. US Bancorp DE purchased a new position in shares of Global Partners in the 1st quarter worth about $31,000. Compass Wealth Management LLC lifted its stake in shares of Global Partners by 100.0% in the 2nd quarter. Compass Wealth Management LLC now owns 1,000 shares of the energy company’s stock valued at $31,000 after purchasing an additional 500 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Global Partners by 211.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,072 shares of the energy company’s stock worth $33,000 after purchasing an additional 728 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Global Partners in a report on Thursday, October 5th. They issued a “buy” rating on the stock.

Global Partners Stock Performance

Shares of GLP stock opened at $33.94 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.71 and a debt-to-equity ratio of 1.63. The company has a market cap of $1.15 billion, a PE ratio of 8.72 and a beta of 1.32. The company’s fifty day simple moving average is $31.68 and its 200-day simple moving average is $31.35. Global Partners LP has a 52 week low of $27.07 and a 52 week high of $39.24.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Thursday, November 9th. The energy company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.09). The company had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.26 billion. Global Partners had a net margin of 0.94% and a return on equity of 24.37%. As a group, equities research analysts anticipate that Global Partners LP will post 3.04 EPS for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Wednesday, November 8th were given a dividend of $0.685 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This is a positive change from Global Partners’s previous quarterly dividend of $0.68. This represents a $2.74 annualized dividend and a yield of 8.07%. Global Partners’s payout ratio is 70.44%.

Insider Buying and Selling

In other news, insider Global Gp Llc acquired 10,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $33.34 per share, for a total transaction of $333,400.00. Following the completion of the purchase, the insider now directly owns 65,206 shares of the company’s stock, valued at approximately $2,173,968.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders have purchased 40,415 shares of company stock valued at $1,336,883. Corporate insiders own 41.50% of the company’s stock.

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 in the New England states, Mid-Atlantic region, and New York.