BNP Paribas Financial Markets Reduces Holdings in Global Partners LP (NYSE:GLP)

BNP Paribas Financial Markets decreased its position in Global Partners LP (NYSE:GLP - Free Report) by 26.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,262 shares of the energy company's stock after selling 27,534 shares during the period. BNP Paribas Financial Markets owned 0.23% of Global Partners worth $3,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLP. Gilman Hill Asset Management LLC lifted its holdings in shares of Global Partners by 17.8% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company's stock worth $1,436,000 after buying an additional 4,760 shares during the period. Granite Bay Wealth Management LLC raised its holdings in shares of Global Partners by 6,200.0% in the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company's stock valued at $14,541,000 after acquiring an additional 310,000 shares in the last quarter. Albert D Mason Inc. lifted its stake in Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company's stock worth $222,000 after acquiring an additional 300 shares during the period. International Assets Investment Management LLC bought a new position in Global Partners during the 2nd quarter worth about $41,000. Finally, Spinnaker Trust purchased a new position in Global Partners during the 2nd quarter valued at about $203,000. Institutional investors own 38.12% of the company's stock.

Insiders Place Their Bets

In other Global Partners news, insider Global Gp Llc purchased 5,000 shares of Global Partners stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $42.84 per share, with a total value of $214,200.00. Following the completion of the transaction, the insider now owns 253,981 shares in the company, valued at approximately $10,880,546.04. This trade represents a 2.01 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 22,026 shares of company stock worth $956,390. 41.50% of the stock is owned by corporate insiders.

Global Partners Stock Up 1.4 %

NYSE GLP traded up $0.79 during midday trading on Thursday, hitting $57.20. 95,610 shares of the company traded hands, compared to its average volume of 96,378. Global Partners LP has a 52 week low of $36.16 and a 52 week high of $57.93. The company's 50-day simple moving average is $49.23 and its 200-day simple moving average is $45.62. The company has a market cap of $1.94 billion, a PE ratio of 17.28 and a beta of 1.43. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Friday, November 8th. This is a positive change from Global Partners's previous quarterly dividend of $0.72. Global Partners's payout ratio is 88.22%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price target on shares of Global Partners from $51.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, November 12th.

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.