BNP Paribas Financial Markets Sells 27,534 Shares of Global Partners LP (NYSE:GLP)

BNP Paribas Financial Markets cut its position in shares of Global Partners LP (NYSE:GLP) by 26.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,262 shares of the energy company’s stock after selling 27,534 shares during the period. BNP Paribas Financial Markets’ holdings in Global Partners were worth $3,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Granite Bay Wealth Management LLC increased its position 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 valued at $14,541,000 after purchasing an additional 310,000 shares during the period. Exchange Traded Concepts LLC grew its position in Global Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after acquiring an additional 725 shares during the period. Gilman Hill Asset Management LLC grew its position in Global Partners by 17.8% in the second quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company’s stock valued at $1,436,000 after acquiring an additional 4,760 shares during the period. Fiducient Advisors LLC acquired a new position in Global Partners in the third quarter worth $474,000. Finally, Albert D Mason Inc. boosted its stake in Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after purchasing an additional 300 shares in the last quarter. 38.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Global Partners

In related news, insider Global Gp Llc bought 2,226 shares of the business’s stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $44.71 per share, with a total value of $99,524.46. Following the completion of the purchase, the insider now owns 268,307 shares of the company’s stock, valued at $11,996,005.97. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders have purchased 22,026 shares of company stock valued at $956,390. 41.50% of the stock is currently owned by company insiders.

Global Partners Trading Down 0.5 %

Shares of GLP opened at $56.57 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. Global Partners LP has a 12-month low of $36.16 and a 12-month high of $56.85. The firm has a market capitalization of $1.92 billion, a PE ratio of 17.09 and a beta of 1.43. The stock’s fifty day simple moving average is $48.97 and its 200-day simple moving average is $45.54.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $0.73 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date was Friday, November 8th. This represents a $2.92 annualized dividend and a yield of 5.16%. Global Partners’s dividend payout ratio is presently 88.22%.

Analyst Ratings Changes

Separately, Stifel Nicolaus boosted their price objective 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 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.