International Assets Investment Management LLC Buys Shares of 38,079 Global Partners LP (NYSE:GLP)

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

Several other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Global Partners by 34.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock valued at $4,790,000 after buying an additional 28,735 shares during the period. Raymond James & Associates lifted its stake in Global Partners by 5.3% in the fourth quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock valued at $673,000 after buying an additional 807 shares during the period. Exchange Traded Concepts LLC lifted its stake in Global Partners by 12.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 36,316 shares of the energy company’s stock valued at $1,537,000 after buying an additional 4,060 shares during the period. Citigroup Inc. acquired a new stake in shares of Global Partners during the third quarter worth about $494,000. Finally, Royal Bank of Canada raised its position in shares of Global Partners by 0.3% during the third quarter. Royal Bank of Canada now owns 180,659 shares of the energy company’s stock worth $6,381,000 after purchasing an additional 520 shares during the period. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com raised Global Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Stifel Nicolaus raised their price target on Global Partners from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th.

Global Partners Trading Up 1.3 %

NYSE GLP opened at $46.10 on Friday. The stock’s 50-day moving average is $46.29 and its 200-day moving average is $40.71. Global Partners LP has a one year low of $27.07 and a one year high of $49.50. The firm has a market cap 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) last announced its earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Sell-side analysts anticipate that Global Partners LP will post 3.9 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date was Wednesday, February 7th. This is a positive change from Global Partners’s previous quarterly dividend of $0.69. Global Partners’s dividend payout ratio (DPR) is currently 74.47%.

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.