Commonwealth Equity Services LLC Sells 653 Shares of Global Partners LP (NYSE:GLP)

Commonwealth Equity Services LLC reduced its holdings in Global Partners LP (NYSE:GLP) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,258 shares of the energy company’s stock after selling 653 shares during the period. Commonwealth Equity Services LLC’s holdings in Global Partners were worth $1,036,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLP. Proficio Capital Partners LLC increased its position in shares of 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 acquiring an additional 5,693,750 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Global Partners during the 4th quarter worth approximately $6,510,000. JPMorgan Chase & Co. raised its stake in shares of Global Partners by 9,171.6% during 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 in the last quarter. NBW Capital LLC acquired a new stake in shares of Global Partners in the 4th quarter valued at approximately $2,431,000. Finally, ING Groep NV bought a new position in shares of Global Partners in the fourth quarter valued at $1,536,000. 38.12% of the stock is owned by institutional investors.

Global Partners Trading Down 0.6 %

Shares of NYSE:GLP opened at $53.70 on Tuesday. The company has a 50-day simple moving average of $55.42 and a 200 day simple moving average of $51.11. The company has a market capitalization of $1.83 billion, a P/E ratio of 16.22 and a beta of 1.53. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a dividend of $0.74 per share. This is an increase from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a dividend yield of 5.51%. The ex-dividend date of this dividend was Monday, February 10th. Global Partners’s payout ratio is currently 122.31%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Global Partners news, COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at $8,444,063.88. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 41.50% of the stock is owned by insiders.

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.