Global Partners LP (NYSE:GLP) Insider Purchases $214,200.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc purchased 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $42.84 per share, with a total value of $214,200.00. Following the purchase, the insider now owns 253,981 shares of the company’s stock, valued at $10,880,546.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, September 18th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The shares were acquired at an average price of $44.02 per share, with a total value of $220,100.00.
• On Monday, September 16th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The shares were acquired at an average price of $43.07 per share, with a total value of $215,350.00.
• On Tuesday, September 10th, Global Gp Llc purchased 4,800 shares of Global Partners stock. The shares were acquired 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 stock was purchased at an average price of $42.40 per share, with a total value of $212,000.00.
• On Thursday, August 29th, Global Gp Llc bought 7,500 shares of Global Partners stock. The stock was purchased 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, with a total value of $213,350.00.
• On Monday, August 19th, Global Gp Llc bought 2,400 shares of Global Partners stock. The stock was purchased at an average price of $41.88 per share, with a total value of $100,512.00.
• On Thursday, August 15th, Global Gp Llc bought 1,300 shares of Global Partners stock. The stock was purchased at an average price 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 stock was purchased at an average price of $45.68 per share, with a total value of $456,800.00.

Global Partners Stock Performance

Shares of Global Partners stock opened at $43.83 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.10 and a quick ratio of 0.62. The firm has a market cap of $1.48 billion, a P/E ratio of 16.29 and a beta of 1.38. The firm has a 50 day simple moving average of $41.56 and a 200 day simple moving average of $44.53. Global Partners LP has a fifty-two week low of $27.07 and a fifty-two week high of $50.85.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). The company 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%. Sell-side analysts predict that Global Partners LP will post 3.19 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a $0.72 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.57%. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio (DPR) is currently 107.06%.

Institutional Trading of Global Partners

A number of hedge funds and other institutional investors have recently modified their holdings of GLP. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Global Partners by 0.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock valued at $1,786,000 after purchasing an additional 342 shares in the last quarter. Tortoise Index Solutions LLC grew its holdings in Global Partners by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 36,404 shares of the energy company’s stock worth $1,540,000 after acquiring an additional 4,148 shares during the period. Blackstone Inc. grew its holdings in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after acquiring an additional 13,800 shares during the period. Virtu Financial LLC acquired a new stake in Global Partners during the 4th quarter worth $206,000. Finally, Leo Wealth LLC acquired a new stake in Global Partners during the 4th quarter worth $423,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their target price on shares of Global Partners from $50.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, August 9th.

Global Partners Company 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.