Global Partners LP (NYSE:GLP) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. trimmed its position in Global Partners LP (NYSE:GLP) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,111 shares of the energy company’s stock after selling 589 shares during the period. Raymond James Trust N.A.’s holdings in Global Partners were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GLP. SVB Wealth LLC purchased a new position in shares of Global Partners during the first quarter valued at approximately $374,000. Gilman Hill Asset Management LLC lifted its stake in shares of Global Partners by 17.8% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company’s stock worth $1,436,000 after purchasing an additional 4,760 shares during the period. Granite Bay Wealth Management LLC boosted its holdings in shares of Global Partners by 6,200.0% during the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock worth $14,541,000 after purchasing an additional 310,000 shares during the last quarter. Albert D Mason Inc. grew its position in shares of Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock valued at $222,000 after purchasing an additional 300 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Global Partners in the second quarter valued at $41,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised their price target on Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th.

Global Partners Price Performance

Global Partners stock opened at $53.00 on Tuesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 16.01 and a beta of 1.38. Global Partners LP has a 1 year low of $33.50 and a 1 year high of $53.31. The firm has a 50 day moving average price of $47.45 and a 200 day moving average price of $44.94.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were given a $0.73 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s dividend payout ratio (DPR) is 88.22%.

Insider Activity at Global Partners

In other news, insider Global Gp Llc acquired 5,000 shares of Global Partners stock in a transaction dated Thursday, September 5th. The shares were acquired at an average cost of $42.40 per share, with a total value of $212,000.00. Following the purchase, the insider now directly owns 239,181 shares of the company’s stock, valued at approximately $10,141,274.40. This trade represents a 2.14 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have bought 34,526 shares of company stock worth $1,506,490. 41.50% of the stock is owned by insiders.

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.