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

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 5,000 shares of Global Partners stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $44.02 per share, for a total transaction of $220,100.00. Following the acquisition, the insider now owns 266,081 shares in the company, valued at approximately $11,712,885.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, September 16th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were purchased at an average price of $43.07 per share, with a total value of $215,350.00.
• On Friday, September 13th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.84 per share, for a total transaction of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc acquired 4,800 shares of Global Partners stock. The shares were purchased at an average cost of $43.17 per share, with a total value of $207,216.00.
• On Thursday, September 5th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was acquired at an average cost of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The stock was acquired at an average price 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 shares were acquired 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 stock was 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 shares were bought at an average cost of $40.49 per share, with a total value of $52,637.00.

Global Partners Stock Up 2.8 %

Shares of NYSE:GLP opened at $45.15 on Friday. The company has a 50 day moving average price of $41.61 and a two-hundred day moving average price of $44.52. The company has a market capitalization of $1.53 billion, a PE ratio of 16.78 and a beta of 1.38. 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.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.10 EPS 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 firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $5.51 billion. Analysts forecast that Global Partners LP will post 3.19 earnings per share for the current 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 paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 6.38%. 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 is presently 107.06%.

Analyst Ratings Changes

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

Institutional Trading of Global Partners

Several hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Global Partners by 0.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after acquiring an additional 342 shares in the last quarter. Tortoise Index Solutions LLC boosted its stake in Global Partners by 12.9% in 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 during the period. Blackstone Inc. increased its holdings in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after purchasing an additional 13,800 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Global Partners in the fourth quarter valued at about $206,000. Finally, Leo Wealth LLC acquired a new position in shares of Global Partners during the fourth quarter worth about $423,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

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.