Global Gp Llc Purchases 5,000 Shares of Global Partners LP (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 5,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were acquired at an average price of $42.40 per share, for a total transaction of $212,000.00. Following the acquisition, the insider now directly owns 239,181 shares of the company’s stock, valued at approximately $10,141,274.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The shares were bought at an average cost of $45.08 per share, for a total transaction of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was bought at an average cost of $42.67 per share, with a total value of $213,350.00.
• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The shares were bought at an average cost of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The stock was bought at an average price of $40.49 per share, with a total value of $52,637.00.
• On Thursday, June 20th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average price of $45.68 per share, for a total transaction of $456,800.00.
• On Monday, June 17th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average price of $47.37 per share, for a total transaction of $473,700.00.

Global Partners Stock Performance

Shares of NYSE GLP opened at $43.74 on Wednesday. Global Partners LP has a 52-week low of $27.07 and a 52-week high of $50.85. 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 firm has a 50 day moving average price of $41.81 and a 200 day moving average price of $44.65.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.40). Global Partners had a net margin of 0.71% and a return on equity of 19.21%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $5.51 billion. On average, sell-side analysts forecast that Global Partners LP will post 3.19 EPS for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.58%. 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%.

Hedge Funds Weigh In On Global Partners

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Global Partners during the 4th quarter worth approximately $1,611,000. Commonwealth Equity Services LLC raised its holdings in shares of Global Partners by 8.0% during the first quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company’s stock worth $1,221,000 after acquiring an additional 2,030 shares during the period. Blackstone Inc. lifted its position in Global Partners by 11.2% in the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after acquiring an additional 13,800 shares in the last quarter. Leo Wealth LLC acquired a new position in Global Partners in the 4th quarter worth $423,000. Finally, Tortoise Index Solutions LLC increased 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 purchasing an additional 4,148 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.