Focus Partners Wealth Invests $1.03 Million in Global Partners LP (NYSE:GLP)

Focus Partners Wealth bought a new stake in Global Partners LP (NYSE:GLP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,113 shares of the energy company’s stock, valued at approximately $1,029,000. Focus Partners Wealth owned 0.07% of Global Partners at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLP. US Bancorp DE grew its stake in Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after purchasing an additional 500 shares during the last quarter. Albert D Mason Inc. boosted its position in Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after buying an additional 575 shares during the last quarter. Virtu Financial LLC purchased a new stake in Global Partners in the fourth quarter valued at approximately $288,000. XTX Topco Ltd acquired a new position in Global Partners in the 4th quarter worth approximately $302,000. Finally, SVB Wealth LLC purchased a new position in Global Partners during the 4th quarter worth approximately $330,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Price Performance

NYSE:GLP opened at $49.27 on Friday. The firm’s fifty day moving average is $51.15 and its two-hundred day moving average is $52.00. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.89 and a beta of 1.02. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. Global Partners LP has a one year low of $37.00 and a one year high of $60.00.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.39. The business had revenue of $4.59 billion during the quarter, compared to analysts’ expectations of $5.64 billion. Global Partners had a return on equity of 22.07% and a net margin of 0.82%. Research analysts expect that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were paid a dividend of $0.745 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 6.05%. Global Partners’s dividend payout ratio (DPR) is presently 94.60%.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 2,195 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the sale, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at approximately $8,444,063.88. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 41.50% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut shares of Global Partners from a “buy” rating to a “hold” rating and lifted their price objective for the company from $54.00 to $56.00 in a research note on Tuesday, March 4th.

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.