Global Partners LP (NYSE:GLP) Insider Global Gp Llc Acquires 5,000 Shares

Global Partners LP (NYSE:GLP) insider Global Gp Llc acquired 5,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was bought at an average cost of $42.67 per share, with a total value of $213,350.00. Following the completion of the transaction, the insider now owns 201,681 shares in the company, valued at $8,605,728.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 29th, Global Gp Llc purchased 7,500 shares of Global Partners stock. The shares were bought at an average cost of $45.08 per share, with a total value of $338,100.00.
• On Monday, August 19th, Global Gp Llc acquired 2,400 shares of Global Partners stock. The stock was purchased at an average cost of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc bought 1,300 shares of Global Partners stock. The stock was purchased at an average price of $40.49 per share, with a total value of $52,637.00.
• On Thursday, June 20th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The shares were purchased at an average cost of $45.68 per share, for a total transaction of $456,800.00.
• On Monday, June 17th, Global Gp Llc acquired 10,000 shares of Global Partners stock. The stock was purchased at an average price of $47.37 per share, with a total value of $473,700.00.
• On Monday, June 10th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average price of $50.23 per share, for a total transaction of $502,300.00.

Global Partners Stock Down 0.2 %

Global Partners stock traded down $0.10 during trading hours on Friday, reaching $45.16. The stock had a trading volume of 5,128 shares, compared to its average volume of 109,624. The business’s 50 day moving average price is $42.22 and its 200-day moving average price is $44.90. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. Global Partners LP has a 52 week low of $27.07 and a 52 week high of $50.85. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 16.83 and a beta of 1.38.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). Global Partners had a return on equity of 18.45% and a net margin of 0.71%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $5.51 billion. Sell-side analysts anticipate that Global Partners LP will post 3.53 EPS for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a yield of 6.38%. Global Partners’s dividend payout ratio (DPR) is 107.06%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Global Partners

Several institutional investors have recently added to or reduced their stakes in GLP. Granite Bay Wealth Management LLC increased its holdings in shares of Global Partners by 6,200.0% during the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock valued at $14,541,000 after acquiring an additional 310,000 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Global Partners in the 4th quarter worth approximately $1,611,000. Sanders Morris Harris LLC purchased a new stake in Global Partners during the 1st quarter worth approximately $732,000. Blackstone Inc. increased its stake in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Leo Wealth LLC acquired a new position in Global Partners during the 4th quarter valued at approximately $423,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

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.