Global Partners LP (NYSE:GLP) Holdings Lifted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in Global Partners LP (NYSE:GLP) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,256 shares of the energy company’s stock after purchasing an additional 725 shares during the quarter. Exchange Traded Concepts LLC owned about 0.10% of Global Partners worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in GLP. Commonwealth Equity Services LLC increased its position in Global Partners by 8.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company’s stock valued at $1,221,000 after acquiring an additional 2,030 shares during the period. Leo Wealth LLC lifted its holdings in Global Partners by 45.0% in the first quarter. Leo Wealth LLC now owns 14,500 shares of the energy company’s stock worth $647,000 after purchasing an additional 4,500 shares during the period. International Assets Investment Management LLC bought a new position in Global Partners in the 2nd quarter valued at about $41,000. Spinnaker Trust bought a new position in Global Partners in the 2nd quarter valued at about $203,000. Finally, Sanders Morris Harris LLC acquired a new position in Global Partners during the 1st quarter valued at about $732,000. Institutional investors own 38.12% of the company’s stock.

Insiders Place Their Bets

In related news, insider Global Gp Llc acquired 2,226 shares of Global Partners stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $44.71 per share, with a total value of $99,524.46. Following the purchase, the insider now directly owns 268,307 shares in the company, valued at $11,996,005.97. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 43,226 shares of company stock worth $1,872,989. 41.50% of the stock is owned by insiders.

Global Partners Stock Down 1.8 %

GLP opened at $47.15 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 0.62 and a current ratio of 1.10. The company has a market capitalization of $1.60 billion, a PE ratio of 17.53 and a beta of 1.38. The stock’s fifty day moving average is $43.71 and its 200-day moving average is $44.51. Global Partners LP has a one year low of $29.21 and a one year 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). Global Partners had a net margin of 0.71% and a return on equity of 19.21%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $5.51 billion. On average, equities analysts predict that Global Partners LP will post 3.19 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 6.11%. This is a boost from Global Partners’s previous quarterly dividend of $0.71. The ex-dividend date was Thursday, August 8th. Global Partners’s dividend payout ratio (DPR) is presently 107.06%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their price objective on shares of Global Partners from $50.00 to $51.00 and gave the company a “buy” rating in a report 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.