Global Partners LP (NYSE:GLP) Insider Acquires $212,000.00 in Stock

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 5,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was purchased at an average price of $42.40 per share, with a total value of $212,000.00. Following the acquisition, the insider now owns 239,181 shares of the company’s stock, valued at $10,141,274.40. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Global Gp Llc also recently made the following trade(s):

• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The stock was purchased at an average cost of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was acquired at an average price of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc bought 2,400 shares of Global Partners stock. The stock was acquired at an average cost of $41.88 per share, with a total value of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The stock was acquired at an average cost of $40.49 per share, for a total transaction of $52,637.00.
• On Thursday, June 20th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $45.68 per share, with a total value of $456,800.00.
• On Monday, June 17th, Global Gp Llc purchased 10,000 shares of Global Partners stock. The stock was bought at an average cost of $47.37 per share, for a total transaction of $473,700.00.

Global Partners Price Performance

Global Partners stock opened at $42.41 on Thursday. The business’s 50 day simple moving average is $41.74 and its 200 day simple moving average is $44.64. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $50.85. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 15.77 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $5.51 billion. Global Partners had a net margin of 0.71% and a return on equity of 19.21%. Sell-side analysts forecast that Global Partners LP will post 3.19 EPS for the current year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 annualized dividend and a yield of 6.79%. Global Partners’s dividend payout ratio is 107.06%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised their price objective on shares of Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Hedge Funds Weigh In On Global Partners

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Global Partners during the 4th quarter valued at approximately $1,611,000. Commonwealth Equity Services LLC grew its stake in Global Partners by 8.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company’s stock valued at $1,221,000 after buying an additional 2,030 shares in the last quarter. Blackstone Inc. raised its holdings in Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after acquiring an additional 13,800 shares during the period. Leo Wealth LLC purchased a new stake in shares of Global Partners during the fourth quarter worth $423,000. Finally, Tortoise Index Solutions LLC boosted its holdings in shares of Global Partners by 12.9% in the fourth quarter. Tortoise Index Solutions LLC now owns 36,404 shares of the energy company’s stock worth $1,540,000 after acquiring an additional 4,148 shares during the period. Hedge funds and other institutional investors own 38.12% 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.