Global Partners LP (NYSE:GLP) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 9,171.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,464 shares of the energy company's stock after purchasing an additional 69,704 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Global Partners worth $3,281,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Global Partners during the third quarter worth about $93,000. Stratos Wealth Advisors LLC acquired a new stake in Global Partners during the third quarter worth about $225,000. Fiducient Advisors LLC acquired a new stake in Global Partners during the third quarter worth about $474,000. Stifel Financial Corp raised its stake in Global Partners by 7.3% during the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock worth $1,478,000 after acquiring an additional 2,166 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in Global Partners by 2.2% during the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company's stock worth $1,548,000 after acquiring an additional 725 shares during the period. Institutional investors own 38.12% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus increased their price objective on shares of Global Partners from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th.

Global Partners Stock Performance

GLP traded down $0.08 on Monday, hitting $52.41. 60,372 shares of the company's stock were exchanged, compared to its average volume of 77,842. The firm has a market cap of $1.78 billion, a PE ratio of 15.83 and a beta of 1.47. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $58.76. The stock has a fifty day moving average of $50.65 and a two-hundred day moving average of $46.23. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were paid a $0.73 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.92 annualized dividend and a dividend yield of 5.57%. This is a positive change from Global Partners's previous quarterly dividend of $0.72. Global Partners's dividend payout ratio (DPR) is presently 88.22%.

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.