Cerity Partners LLC Takes $528,000 Position in Global Partners LP (NYSE:GLP)

Cerity Partners LLC purchased a new stake in shares of Global Partners LP (NYSE:GLP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,339 shares of the energy company's stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Global Partners by 53.8% during the fourth quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock valued at $5,044,000 after buying an additional 37,893 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Global Partners during the 4th quarter valued at $288,000. BBR Partners LLC purchased a new stake in shares of Global Partners in the 4th quarter worth $337,000. Raymond James Financial Inc. purchased a new position in Global Partners during the fourth quarter valued at $6,510,000. Finally, NBW Capital LLC bought a new stake in Global Partners during the fourth quarter valued at about $2,431,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered shares of Global Partners from a "buy" rating to a "hold" rating and increased their target price for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

Insiders Place Their Bets

In other news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the sale, the chief operating officer now directly owns 156,198 shares in the company, valued at approximately $8,444,063.88. This represents a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.50% of the stock is currently owned by corporate insiders.

Global Partners Price Performance

Global Partners stock traded up $1.35 during mid-day trading on Thursday, hitting $53.09. The stock had a trading volume of 25,570 shares, compared to its average volume of 78,472. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm's 50 day moving average is $53.38 and its 200 day moving average is $51.57. The firm has a market capitalization of $1.80 billion, a P/E ratio of 16.04 and a beta of 1.16. Global Partners LP has a one year low of $37.00 and a one year high of $60.00.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a $0.74 dividend. The ex-dividend date was Monday, February 10th. This is a boost from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a yield of 5.58%. 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.