Global Gp Llc Acquires 10,000 Shares of Global Partners LP (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 10,000 shares of Global Partners stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average price of $43.49 per share, with a total value of $434,900.00. Following the completion of the acquisition, the insider now directly owns 97,981 shares of the company’s stock, valued at $4,261,193.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Global Gp Llc also recently made the following trade(s):

• On Monday, May 20th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.96 per share, with a total value of $449,600.00.
• On Friday, May 17th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $44.05 per share, with a total value of $440,500.00.
• On Wednesday, May 15th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $43.29 per share, with a total value of $432,900.00.
• On Monday, May 13th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The shares were acquired at an average price of $42.66 per share, with a total value of $426,600.00.

Global Partners Stock Up 2.2 %

GLP opened at $44.54 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The company’s 50-day moving average is $45.73 and its 200 day moving average is $43.13. Global Partners LP has a fifty-two week low of $27.07 and a fifty-two week high of $49.50. The firm has a market capitalization of $1.51 billion, a P/E ratio of 16.56 and a beta of 1.33.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Research analysts expect that Global Partners LP will post 3.11 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were given a dividend of $0.71 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date was Wednesday, May 8th. Global Partners’s dividend payout ratio (DPR) is presently 105.58%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GLP. Raymond James Financial Services Advisors Inc. raised its position 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 worth $4,790,000 after acquiring an additional 28,735 shares during the period. HighTower Advisors LLC raised its position in Global Partners by 22.6% in the third quarter. HighTower Advisors LLC now owns 15,103 shares of the energy company’s stock worth $534,000 after acquiring an additional 2,784 shares during the period. Exchange Traded Concepts LLC raised its position 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 worth $1,537,000 after acquiring an additional 4,060 shares during the period. International Assets Investment Management LLC bought a new stake in Global Partners in the fourth quarter worth about $1,611,000. Finally, Citigroup Inc. bought a new stake in Global Partners in the third quarter worth about $494,000. 38.12% of the stock is owned by institutional investors.

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.