Global Partners LP $GLP Shares Newly Acquired by Leo Wealth LLC

Leo Wealth LLC bought a new position in Global Partners LP (NYSE:GLP) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 14,500 shares of the energy company’s stock, valued at approximately $671,000.

A number of other institutional investors have also bought and sold shares of GLP. BlackRock Inc. acquired a new position in shares of Global Partners during the 2nd quarter worth approximately $4,789,000. Heartland Advisors Inc. acquired a new stake in shares of Global Partners in the second quarter valued at approximately $2,952,000. Bard Associates Inc. purchased a new position in Global Partners during the second quarter worth approximately $936,000. GSA Capital Partners LLP purchased a new position in Global Partners during the second quarter worth approximately $379,000. Finally, Bank of America Corp DE purchased a new position in Global Partners during the second quarter worth approximately $264,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Global Partners Trading Down 0.2%

GLP opened at $48.34 on Tuesday. Global Partners LP has a 52 week low of $39.58 and a 52 week high of $54.29. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44. The business has a fifty day simple moving average of $49.77 and a 200-day simple moving average of $47.82. The firm has a market cap of $1.64 billion, a P/E ratio of 9.87 and a beta of 1.11.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, August 7th. The energy company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.62. Global Partners had a return on equity of 30.87% and a net margin of 0.91%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $7.51 billion. On average, equities analysts expect that Global Partners LP will post 6.02 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $3.12 annualized dividend and a yield of 6.5%. This is an increase from Global Partners’s previous quarterly dividend of $0.7650. Global Partners’s dividend payout ratio is presently 63.54%.

Analyst Ratings Changes

GLP has been the subject of several analyst reports. Wall Street Zen upgraded Global Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Zacks Research downgraded Global Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings upgraded Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.00.

About Global Partners

Global Partners LP (NYSE: GLP) is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company’s activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.

Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.