GSA Capital Partners LLP purchased a new stake in shares of Global Partners LP (NYSE:GLP – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 52,283 shares of the energy company’s stock, valued at approximately $379,000.
Other hedge funds also recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its position in Global Partners by 4.9% in the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock valued at $251,093,000 after acquiring an additional 277,875 shares in the last quarter. ING Groep NV boosted its stake in Global Partners by 32.2% during the 4th quarter. ING Groep NV now owns 35,700 shares of the energy company’s stock valued at $1,494,000 after purchasing an additional 8,700 shares during the last quarter. State of Wyoming increased its holdings in shares of Global Partners by 213.2% in the 4th quarter. State of Wyoming now owns 7,215 shares of the energy company’s stock worth $302,000 after purchasing an additional 4,911 shares in the last quarter. Spinnaker Trust increased its holdings in shares of Global Partners by 136.0% in the 4th quarter. Spinnaker Trust now owns 11,446 shares of the energy company’s stock worth $479,000 after purchasing an additional 6,596 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Global Partners in the fourth quarter worth $41,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Weiss Ratings raised Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded Global Partners from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Finally, Zacks Research lowered Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.00.
Global Partners Stock Down 0.6%
Shares of Global Partners stock opened at $50.28 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 10.24 and a beta of 1.01. The company’s 50 day moving average is $48.01 and its 200 day moving average is $47.67. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $53.25. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44.
Global Partners (NYSE:GLP – Get Free Report) last posted its earnings results on Friday, August 7th. The energy company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.62. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $7.51 billion. Research analysts anticipate that Global Partners LP will post 5.87 EPS for the current year.
Global Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 10th were paid a $0.78 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.77. The ex-dividend date was Monday, August 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.2%. Global Partners’s dividend payout ratio (DPR) is 63.54%.
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.
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