Global Partners LP (NYSE:GLP) Shares Sold by Hartree Partners LP

Hartree Partners LP lessened its stake in Global Partners LP (NYSE:GLP) by 28.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508,080 shares of the energy company’s stock after selling 200,000 shares during the period. Global Partners accounts for 8.8% of Hartree Partners LP’s portfolio, making the stock its 2nd largest holding. Hartree Partners LP owned about 1.49% of Global Partners worth $23,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in GLP. Stifel Financial Corp raised its position in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after acquiring an additional 2,166 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after purchasing an additional 69,704 shares during the period. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares in the last quarter. ING Groep NV acquired a new position in Global Partners during the 4th quarter worth approximately $1,536,000. Finally, Proficio Capital Partners LLC grew its position in Global Partners by 4,555.0% in the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after purchasing an additional 5,693,750 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and boosted their price target for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.

Global Partners Stock Down 0.1 %

GLP opened at $54.03 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The stock’s fifty day simple moving average is $55.40 and its 200 day simple moving average is $50.98. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The stock has a market cap of $1.84 billion, a PE ratio of 16.32 and a beta of 1.53.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were given a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a yield of 5.48%. Global Partners’s dividend payout ratio (DPR) is 122.31%.

Insider Buying and Selling at Global Partners

In other news, COO Mark Romaine sold 2,195 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 41.50% of the company’s stock.

Global Partners 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.