Kayne Anderson Capital Advisors LP Sells 5,000 Shares of Global Partners LP (NYSE:GLP)

Kayne Anderson Capital Advisors LP reduced its stake in Global Partners LP (NYSE:GLP) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 38,300 shares of the energy company’s stock after selling 5,000 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Global Partners were worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GLP. Apollon Wealth Management LLC grew its stake in Global Partners by 3.1% in the 4th quarter. Apollon Wealth Management LLC now owns 10,829 shares of the energy company’s stock worth $458,000 after acquiring an additional 325 shares in the last quarter. Fractal Investments LLC raised its holdings in shares of Global Partners by 46.5% in the fourth quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock worth $8,260,000 after buying an additional 62,000 shares during the last quarter. Signaturefd LLC acquired a new stake in shares of Global Partners in the fourth quarter worth $85,000. NewEdge Wealth LLC increased its stake in shares of Global Partners by 5.4% in the fourth quarter. NewEdge Wealth LLC now owns 21,572 shares of the energy company’s stock worth $913,000 after acquiring an additional 1,100 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the fourth quarter worth $1,611,000. 38.12% of the stock is currently owned by institutional investors.

Global Partners Trading Up 1.6 %

Shares of Global Partners stock traded up $0.74 on Thursday, reaching $45.96. The company had a trading volume of 8,100 shares, compared to its average volume of 131,560. The firm’s 50 day moving average price is $46.40 and its two-hundred day moving average price is $42.24. The firm has a market cap of $1.56 billion, a PE ratio of 12.08 and a beta of 1.33. Global Partners LP has a 52-week low of $27.07 and a 52-week high of $49.50. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 1.12.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Wednesday, February 28th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $0.96 by $0.45. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. Sell-side analysts predict that Global Partners LP will post 3.53 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $2.84 dividend on an annualized basis and a yield of 6.18%. This is an increase from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s dividend payout ratio is presently 75.53%.

Analyst Ratings Changes

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

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.