18,800 Shares in Global Partners LP $GLP Acquired by Lee Financial Co

Lee Financial Co bought a new stake in shares of Global Partners LP (NYSE:GLP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 18,800 shares of the energy company’s stock, valued at approximately $902,000. Lee Financial Co owned 0.06% of Global Partners at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Global Partners in the first quarter worth $862,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Global Partners during the 2nd quarter worth about $408,000. Leo Wealth LLC boosted its stake in Global Partners by 45.0% in the 2nd quarter. Leo Wealth LLC now owns 14,500 shares of the energy company’s stock worth $765,000 after purchasing an additional 4,500 shares during the period. MGO One Seven LLC purchased a new position in Global Partners during the 2nd quarter valued at about $227,000. Finally, Cetera Investment Advisers increased its position in shares of Global Partners by 40.3% during the second quarter. Cetera Investment Advisers now owns 24,815 shares of the energy company’s stock valued at $1,308,000 after buying an additional 7,123 shares during the period. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Trading Down 2.1%

Shares of GLP opened at $46.82 on Friday. Global Partners LP has a 1-year low of $39.58 and a 1-year high of $60.00. The company has a market capitalization of $1.59 billion, a P/E ratio of 22.40 and a beta of 0.95. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.21 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $43.64 and its 200 day simple moving average is $46.78.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Friday, November 7th. The energy company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.43). The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Global Partners had a return on equity of 15.54% and a net margin of 0.53%. Sell-side analysts forecast that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 9th will be paid a $0.76 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, February 9th. Global Partners’s payout ratio is currently 144.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GLP shares. Zacks Research upgraded shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen cut shares of Global Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Stifel Nicolaus cut their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Global Partners presently has a consensus rating of “Hold” and a consensus price target of $45.00.

Global Partners Company 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.