BBR Partners LLC Buys New Shares in Global Partners LP (NYSE:GLP)

BBR Partners LLC bought a new stake in shares of Global Partners LP (NYSE:GLP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 7,250 shares of the energy company's stock, valued at approximately $337,000.

A number of other large investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP bought a new stake in Global Partners in the third quarter valued at about $93,000. Infrastructure Capital Advisors LLC grew its position in shares of Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company's stock worth $6,572,000 after buying an additional 51,630 shares during the period. Stifel Financial Corp grew its position in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock worth $1,478,000 after buying an additional 2,166 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $3,281,000 after acquiring an additional 69,704 shares during the last quarter. Finally, Albert D Mason Inc. raised its position in shares of Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after acquiring an additional 575 shares during the period. Institutional investors and hedge funds own 38.12% of the company's stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus cut shares of Global Partners from a "buy" rating to a "hold" rating and boosted their price objective for the company from $54.00 to $56.00 in a report on Tuesday, March 4th.

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Global Partners Trading Up 1.2 %

Shares of GLP traded up $0.67 during trading hours on Tuesday, reaching $54.50. The stock had a trading volume of 77,172 shares, compared to its average volume of 76,060. The firm has a 50-day moving average of $53.62 and a 200 day moving average of $49.94. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The company has a market cap of $1.85 billion, a P/E ratio of 16.47 and a beta of 1.53. Global Partners LP has a 52 week low of $37.00 and a 52 week high of $60.00.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were given a $0.74 dividend. This is a boost from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a yield of 5.43%. The ex-dividend date was Monday, February 10th. Global Partners's payout ratio is currently 122.31%.

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.