Global Gp Llc Acquires 5,000 Shares of Global Partners LP (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was bought at an average price of $42.84 per share, for a total transaction of $214,200.00. Following the completion of the acquisition, the insider now directly owns 253,981 shares in the company, valued at $10,880,546.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, September 16th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were bought at an average price of $43.07 per share, for a total transaction of $215,350.00.
• On Tuesday, September 10th, Global Gp Llc bought 4,800 shares of Global Partners stock. The stock was purchased at an average price of $43.17 per share, with a total value of $207,216.00.
• On Thursday, September 5th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were purchased at an average cost of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc purchased 7,500 shares of Global Partners stock. The shares were bought at an average price of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The shares were acquired at an average price of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The stock was acquired at an average cost of $40.49 per share, with a total value of $52,637.00.
• On Thursday, June 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $45.68 per share, for a total transaction of $456,800.00.

Global Partners Stock Performance

Global Partners stock traded up $0.56 during trading hours on Tuesday, reaching $43.56. 41,576 shares of the company were exchanged, compared to its average volume of 108,152. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $50.85. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 15.97 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52. The stock has a 50-day moving average of $41.61 and a 200 day moving average of $44.57.

Global Partners (NYSE:GLP) last posted its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $5.51 billion. Global Partners had a net margin of 0.71% and a return on equity of 19.21%. As a group, research analysts anticipate that Global Partners LP will post 3.19 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a $0.72 dividend. The ex-dividend date was Thursday, August 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.61%. Global Partners’s payout ratio is presently 107.06%.

Hedge Funds Weigh In On Global Partners

Several large investors have recently made changes to their positions in GLP. Granite Bay Wealth Management LLC lifted its stake in shares of Global Partners by 6,200.0% in the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock valued at $14,541,000 after buying an additional 310,000 shares during the period. Blackstone Inc. raised its holdings in Global Partners by 11.2% in the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after acquiring an additional 13,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Global Partners by 0.8% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after acquiring an additional 342 shares during the period. Tortoise Index Solutions LLC boosted its stake in Global Partners by 12.9% during the fourth quarter. Tortoise Index Solutions LLC now owns 36,404 shares of the energy company’s stock worth $1,540,000 after buying an additional 4,148 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in Global Partners by 17.8% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company’s stock valued at $1,436,000 after buying an additional 4,760 shares during the period. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus boosted their price target on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

About Global Partners

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.