10,979 Shares in Global Partners LP (GLP) Acquired by Acadian Asset Management LLC
Acadian Asset Management LLC purchased a new stake in shares of Global Partners LP (NYSE:GLP) during the second quarter, Holdings Channel reports. The firm purchased 10,979 shares of the energy company’s stock, valued at approximately $199,000.
A number of other large investors have also bought and sold shares of GLP. Creative Planning raised its stake in Global Partners by 54.3% in the first quarter. Creative Planning now owns 15,297 shares of the energy company’s stock valued at $298,000 after buying an additional 5,383 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock worth $15,443,000 after buying an additional 70,756 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in Global Partners by 81.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock worth $1,052,000 after buying an additional 25,691 shares during the last quarter. Texas Yale Capital Corp. increased its stake in Global Partners by 51.8% in the first quarter. Texas Yale Capital Corp. now owns 25,060 shares of the energy company’s stock worth $489,000 after buying an additional 8,550 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Global Partners by 5.2% in the first quarter. OppenheimerFunds Inc. now owns 4,062,473 shares of the energy company’s stock worth $79,218,000 after buying an additional 201,405 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.
Global Partners LP (NYSE:GLP) traded down 0.90% during mid-day trading on Wednesday, reaching $16.60. 22,236 shares of the company were exchanged. The company’s 50 day moving average price is $17.73 and its 200-day moving average price is $18.82. The stock’s market capitalization is $557.00 million. Global Partners LP has a 12 month low of $14.51 and a 12 month high of $21.95.
Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, August 9th. The energy company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Global Partners had a negative net margin of 1.83% and a positive return on equity of 0.21%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the company posted ($0.22) earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts expect that Global Partners LP will post $1.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Wednesday, August 9th were given a dividend of $0.463 per share. This represents a $1.85 annualized dividend and a yield of 11.06%. The ex-dividend date was Monday, August 7th. Global Partners’s payout ratio is presently -39.11%.
A number of analysts have commented on GLP shares. Zacks Investment Research downgraded shares of Global Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 9th. Janney Montgomery Scott initiated coverage on shares of Global Partners in a research report on Friday, June 23rd. They set a “neutral” rating and a $18.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $21.00 price objective on shares of Global Partners in a research report on Friday, June 23rd. Finally, BidaskClub cut shares of Global Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Global Partners presently has an average rating of “Hold” and an average target price of $18.40.
About Global Partners
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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