UBS Group AG Has $7.28 Million Stock Holdings in Global Partners LP $GLP

UBS Group AG trimmed its position in shares of Global Partners LP (NYSE:GLP) by 26.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 173,886 shares of the energy company’s stock after selling 61,138 shares during the period. UBS Group AG’s holdings in Global Partners were worth $7,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GLP. Alps Advisors Inc. boosted its stake in shares of Global Partners by 5.1% during the third quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock valued at $274,655,000 after purchasing an additional 275,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Global Partners by 4.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after purchasing an additional 85,347 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Global Partners by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company’s stock worth $18,685,000 after acquiring an additional 55,304 shares during the period. ING Groep NV acquired a new position in shares of Global Partners in the third quarter worth approximately $1,296,000. Finally, Lee Financial Co acquired a new position in shares of Global Partners in the third quarter worth approximately $902,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLP has been the topic of a number of recent analyst reports. Weiss Ratings raised Global Partners from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Wall Street Zen raised Global Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Stifel Nicolaus lifted their price objective on Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a research note on Monday, March 2nd. Finally, Zacks Research raised Global Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Global Partners Price Performance

Global Partners stock opened at $48.87 on Tuesday. The stock’s 50 day moving average is $46.66 and its 200 day moving average is $45.40. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.12 and a quick ratio of 0.64. The firm has a market cap of $1.66 billion, a P/E ratio of 13.58 and a beta of 1.04. Global Partners LP has a one year low of $39.58 and a one year high of $56.51.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.52. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $6.98 billion. Global Partners had a return on equity of 24.23% and a net margin of 0.77%. As a group, research analysts expect that Global Partners LP will post 4.71 EPS for the current year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were issued a $0.765 dividend. The ex-dividend date was Monday, May 11th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.06 dividend on an annualized basis and a yield of 6.3%. Global Partners’s dividend payout ratio is presently 85.00%.

Insiders Place Their Bets

In other Global Partners news, COO Mark Romaine sold 2,020 shares of Global Partners stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $48.19, for a total value of $97,343.80. Following the completion of the sale, the chief operating officer directly owned 141,609 shares in the company, valued at approximately $6,824,137.71. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 24,063 shares of company stock valued at $1,146,471 in the last ninety days. Insiders own 41.50% of the company’s stock.

Global Partners Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.