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

Global Partners LP (NYSE:GLP) insider Global Gp Llc purchased 5,000 shares of Global Partners stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average price of $44.02 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, September 16th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were acquired at an average cost of $43.07 per share, for a total transaction of $215,350.00.
• On Friday, September 13th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.84 per share, with a total value of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc purchased 4,800 shares of Global Partners stock. The stock was bought at an average price of $43.17 per share, for a total transaction of $207,216.00.
• On Thursday, September 5th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.40 per share, with a total value of $212,000.00.
• On Thursday, August 29th, Global Gp Llc bought 7,500 shares of Global Partners stock. The stock was purchased at an average price of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc acquired 2,400 shares of Global Partners stock. The shares were purchased at an average price of $41.88 per share, with a total value of $100,512.00.
• On Thursday, August 15th, Global Gp Llc purchased 1,300 shares of Global Partners stock. The stock was purchased at an average cost of $40.49 per share, for a total transaction of $52,637.00.

Global Partners Price Performance

Shares of GLP stock opened at $45.15 on Friday. Global Partners LP has a fifty-two week low of $27.07 and a fifty-two 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 market capitalization of $1.53 billion, a price-to-earnings ratio of 16.78 and a beta of 1.38. The stock’s 50-day simple moving average is $41.61 and its 200-day simple moving average is $44.50.

Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.40). Global Partners had a return on equity of 19.21% and a net margin of 0.71%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $5.51 billion. As a group, equities analysts forecast that Global Partners LP will post 3.19 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 6.38%. This is an increase from Global Partners’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Thursday, August 8th. Global Partners’s dividend payout ratio is presently 107.06%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Global Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLP. International Assets Investment Management LLC acquired a new position in shares of Global Partners in the second quarter valued at about $41,000. Spinnaker Trust purchased a new stake in Global Partners in the second quarter valued at approximately $203,000. Albert D Mason Inc. acquired a new position in Global Partners in the 1st quarter worth approximately $203,000. Virtu Financial LLC purchased a new position in Global Partners during the 4th quarter worth approximately $206,000. Finally, Crescent Grove Advisors LLC acquired a new stake in Global Partners during the 1st quarter valued at approximately $318,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

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.