Global Partners LP (NYSE:GLP) Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Partners LP (NYSE:GLP) by 4.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,609,112 shares of the energy company’s stock after buying an additional 64,901 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 4.73% of Global Partners worth $74,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLP. JPMorgan Chase & Co. lifted its holdings in shares of Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after acquiring an additional 69,704 shares during the last quarter. Albert D Mason Inc. boosted its position in shares of Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock worth $253,000 after buying an additional 575 shares during the period. ING Groep NV acquired a new stake in shares of Global Partners in the fourth quarter valued at $1,536,000. Proficio Capital Partners LLC grew its stake in shares of Global Partners by 4,555.0% in the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after buying an additional 5,693,750 shares in the last quarter. Finally, SVB Wealth LLC purchased a new stake in shares of Global Partners in the 4th quarter valued at $330,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Price Performance

Global Partners stock opened at $47.15 on Tuesday. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00. The firm has a market cap of $1.60 billion, a PE ratio of 14.24 and a beta of 1.02. The company’s 50 day moving average is $51.53 and its two-hundred day moving average is $51.97.

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

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 9th will be issued a $0.745 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, May 9th. This represents a $2.98 annualized dividend and a yield of 6.32%. Global Partners’s dividend payout ratio (DPR) is 94.60%.

Insiders Place Their Bets

In other Global Partners news, COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.06, for a total transaction of $118,661.70. Following the completion of the sale, the chief operating officer now directly owns 156,198 shares of the company’s stock, valued at $8,444,063.88. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 41.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut Global Partners from a “buy” rating to a “hold” rating and raised their target price for the company from $54.00 to $56.00 in a report 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.