Leo Wealth LLC Lowers Stock Position in Global Partners LP (NYSE:GLP)

Leo Wealth LLC reduced its stake in Global Partners LP (NYSE:GLP) by 31.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the energy company’s stock after selling 4,500 shares during the quarter. Leo Wealth LLC’s holdings in Global Partners were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE raised its stake in Global Partners by 54.1% in the fourth 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 in the last quarter. Silverberg Bernstein Capital Management LLC bought a new position in Global Partners during the first quarter valued at approximately $222,000. Virtu Financial LLC bought a new position in Global Partners during the fourth quarter valued at approximately $288,000. XTX Topco Ltd bought a new position in Global Partners during the fourth quarter valued at approximately $302,000. Finally, Marcum Wealth LLC bought a new position in Global Partners during the first quarter valued at approximately $356,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Global Partners Stock Down 0.2%

Shares of NYSE GLP opened at $51.65 on Tuesday. Global Partners LP has a one year low of $37.00 and a one year high of $60.00. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.17 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $52.07 and its two-hundred day simple moving average is $52.46. The stock has a market capitalization of $1.76 billion, a P/E ratio of 16.40 and a beta of 1.03.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.39. Global Partners had a net margin of 0.76% and a return on equity of 21.10%. The business had revenue of $4.59 billion for the quarter, compared to analysts’ expectations of $5.64 billion. As a group, analysts expect that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Friday, May 9th were given a dividend of $0.745 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.74. This represents a $2.98 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date of this dividend was Friday, May 9th. Global Partners’s dividend payout ratio (DPR) is presently 94.60%.

Insider Activity

In other news, COO Mark Romaine sold 6,659 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $54.26, for a total value of $361,317.34. Following the transaction, the chief operating officer owned 159,872 shares in the company, valued at approximately $8,674,654.72. This trade represents a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.50% 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.