Heartland Advisors Inc. acquired a new stake in Global Partners LP (NYSE:GLP – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 407,741 shares of the energy company’s stock, valued at approximately $2,952,000.
Other large investors also recently bought and sold shares of the company. Alps Advisors Inc. grew its position in shares of Global Partners by 4.9% in the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after acquiring an additional 277,875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Global Partners by 4.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after acquiring an additional 85,347 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Global Partners during the 2nd quarter valued at approximately $4,789,000. Goldman Sachs Group Inc. raised its position in shares of Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock valued at $25,457,000 after acquiring an additional 67,337 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Global Partners by 13.1% during the fourth quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock worth $18,421,000 after purchasing an additional 50,890 shares during the last quarter. Institutional investors own 38.12% of the company’s stock.
Global Partners Price Performance
Shares of NYSE GLP opened at $50.28 on Friday. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.19 and a quick ratio of 0.71. The firm has a market capitalization of $1.71 billion, a PE ratio of 10.24 and a beta of 1.01. Global Partners LP has a 1-year low of $39.58 and a 1-year high of $53.25. The business’s fifty day moving average price is $48.01 and its two-hundred day moving average price is $47.67.
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. This is a positive change from Global Partners’s previous quarterly dividend of $0.77. The ex-dividend date was Monday, August 10th. This represents a $3.12 annualized dividend and a yield of 6.2%. Global Partners’s payout ratio is currently 63.54%.
Analysts Set New Price Targets
GLP has been the subject of several recent research reports. Weiss Ratings upgraded shares of Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. Zacks Research lowered shares of Global Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen raised shares of Global Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Global Partners presently has an average rating of “Hold” and an average target price of $46.00.
View Our Latest Analysis on Global Partners
About Global Partners
Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.
Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.
Featured Stories
- Five stocks we like better than Global Partners
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Want to see what other hedge funds are holding GLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP – Free Report).
Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with MarketBeat.com's FREE daily email newsletter.
