Global Partners LP (NYSE:GLP) Shares Purchased by Tortoise Index Solutions LLC

Tortoise Index Solutions LLC raised its stake in Global Partners LP (NYSE:GLP) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,404 shares of the energy company’s stock after acquiring an additional 4,148 shares during the period. Tortoise Index Solutions LLC owned 0.11% of Global Partners worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GLP. Fractal Investments LLC boosted its stake in Global Partners by 46.5% in the fourth quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock valued at $8,260,000 after acquiring an additional 62,000 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Global Partners in the fourth quarter valued at $1,611,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Global Partners by 34.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock valued at $4,790,000 after buying an additional 28,735 shares during the last quarter. Blackstone Inc. raised its holdings in shares of Global Partners by 15.1% in the third quarter. Blackstone Inc. now owns 123,375 shares of the energy company’s stock valued at $4,358,000 after buying an additional 16,200 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Global Partners in the third quarter valued at about $494,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Insider Buying and Selling

In other news, insider Global Gp Llc purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $46.69 per share, with a total value of $466,900.00. Following the completion of the acquisition, the insider now directly owns 147,981 shares of the company’s stock, valued at approximately $6,909,232.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 80,000 shares of company stock valued at $3,546,900 over the last ninety days. Corporate insiders own 41.50% of the company’s stock.

Global Partners Stock Performance

Shares of NYSE:GLP traded down $0.32 on Tuesday, reaching $49.74. The company’s stock had a trading volume of 20,692 shares, compared to its average volume of 127,730. The stock’s 50-day moving average is $46.06 and its two-hundred day moving average is $44.48. Global Partners LP has a 52-week low of $27.07 and a 52-week high of $50.85. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.17 and a quick ratio of 0.76. The stock has a market capitalization of $1.68 billion, a P/E ratio of 18.59 and a beta of 1.36.

Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, May 8th. The energy company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.47). Global Partners had a net margin of 0.71% and a return on equity of 18.45%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $5.22 billion. As a group, sell-side analysts forecast that Global Partners LP will post 3.11 EPS for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were issued a dividend of $0.71 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend was Wednesday, May 8th. Global Partners’s dividend payout ratio is currently 105.58%.

Global Partners 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.