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

Global Partners LP (NYSE:GLP) insider Global Gp Llc purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was bought at an average price of $44.96 per share, for a total transaction of $449,600.00. Following the acquisition, the insider now owns 77,981 shares of the company’s stock, valued at $3,506,025.76. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, May 22nd, Global Gp Llc bought 10,000 shares of Global Partners stock. The stock was bought at an average cost of $43.49 per share, with a total value of $434,900.00.
• On Friday, May 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were bought at an average price of $44.05 per share, for a total transaction of $440,500.00.
• On Wednesday, May 15th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was bought at an average price of $43.29 per share, with a total value of $432,900.00.
• On Monday, May 13th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were purchased at an average price of $42.66 per share, for a total transaction of $426,600.00.

Global Partners Stock Down 1.6 %

NYSE:GLP opened at $43.62 on Thursday. 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 firm’s 50-day moving average price is $45.75 and its 200-day moving average price is $43.12. The company has a market capitalization of $1.48 billion, a PE ratio of 16.22 and a beta of 1.33. Global Partners LP has a 1-year low of $27.07 and a 1-year high of $49.50.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $0.96 by $0.45. Global Partners had a net margin of 0.71% and a return on equity of 18.45%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. On average, equities analysts predict that Global Partners LP will post 3.11 EPS for the current fiscal year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $2.84 annualized dividend and a dividend yield of 6.51%. This is an increase from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s dividend payout ratio is presently 105.58%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Fractal Investments LLC increased its holdings in shares of Global Partners by 46.5% during the fourth quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock valued at $8,260,000 after acquiring an additional 62,000 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Global Partners during the 4th quarter valued at about $1,611,000. Raymond James Financial Services Advisors Inc. increased its stake in Global Partners by 34.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock valued at $4,790,000 after purchasing an additional 28,735 shares in the last quarter. Sanders Morris Harris LLC purchased a new position in Global Partners in the first quarter worth about $732,000. Finally, Blackstone Inc. lifted its stake in shares of Global Partners by 15.1% in the third quarter. Blackstone Inc. now owns 123,375 shares of the energy company’s stock worth $4,358,000 after buying an additional 16,200 shares in the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered 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.