Sanders Morris Harris LLC Makes New Investment in Global Partners LP $GLP

Sanders Morris Harris LLC purchased a new stake in shares of Global Partners LP (NYSE:GLP) during the third quarter, HoldingsChannel reports. The institutional investor purchased 15,500 shares of the energy company’s stock, valued at approximately $737,000.

A number of other institutional investors have also recently added to or reduced their stakes in GLP. Global Retirement Partners LLC purchased a new position in shares of Global Partners during the 2nd quarter valued at approximately $60,000. CENTRAL TRUST Co bought a new stake in shares of Global Partners during the first quarter valued at about $105,000. Ieq Capital LLC acquired a new position in shares of Global Partners during the 2nd quarter valued at $117,000. Deutsche Bank AG bought a new stake in shares of Global Partners in the 2nd quarter worth approximately $119,000. Finally, Ancora Advisors LLC acquired a new stake in Global Partners during the 2nd quarter worth about $156,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLP shares. Wall Street Zen raised shares of Global Partners from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Weiss Ratings upgraded shares of Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. Finally, Zacks Research lowered shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.00.

Global Partners Trading Down 2.1%

NYSE GLP opened at $48.45 on Thursday. The stock has a 50-day simple moving average of $49.93 and a 200 day simple moving average of $48.26. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 2.44. The company has a market capitalization of $1.65 billion, a PE ratio of 10.08 and a beta of 1.11. Global Partners LP has a 12 month low of $39.58 and a 12 month high of $54.29.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.62. The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $7.51 billion. Global Partners had a net margin of 0.91% and a return on equity of 30.87%. Research analysts forecast that Global Partners LP will post 5.87 EPS for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were paid a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 6.4%. The ex-dividend date was Monday, August 10th. This is a positive change from Global Partners’s previous quarterly dividend of $0.7650. Global Partners’s dividend payout ratio (DPR) is presently 63.54%.

Global Partners Company Profile

Global Partners LP (NYSE: GLP) is an integrated energy supply, logistics and retail company headquartered in Waltham, Massachusetts. The company purchases, stores, transports and distributes a range of energy products, including gasoline, diesel and other refined petroleum products, renewable fuels, crude oil and natural gas.

Global Partners operates a network of terminals and transportation assets that supports the movement of energy products throughout the northeastern United States and other parts of the country.