Global Partners LP (NYSE:GLP) Shares Sold by Hartree Partners LP

Hartree Partners LP cut its stake in shares of Global Partners LP (NYSE:GLP - Free Report) by 28.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508,080 shares of the energy company's stock after selling 200,000 shares during the quarter. Global Partners accounts for about 8.8% of Hartree Partners LP's portfolio, making the stock its 2nd largest position. Hartree Partners LP owned about 1.49% of Global Partners worth $23,651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in shares of Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after purchasing an additional 500 shares during the last quarter. Albert D Mason Inc. increased its position in 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. Virtu Financial LLC bought a new position in shares of Global Partners during the fourth quarter valued at $288,000. SVB Wealth LLC acquired a new position in shares of Global Partners during the fourth quarter worth $330,000. Finally, BBR Partners LLC bought a new stake in shares of Global Partners in the fourth quarter worth $337,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Global Partners Trading Down 1.4 %

Shares of NYSE GLP traded down $0.78 during midday trading on Thursday, reaching $54.77. The stock had a trading volume of 9,391 shares, compared to its average volume of 87,820. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The company's 50 day moving average price is $55.54 and its 200 day moving average price is $51.23. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 16.55 and a beta of 1.53. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14.

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Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were issued a dividend of $0.74 per share. This is an increase from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Monday, February 10th. Global Partners's dividend payout ratio (DPR) is presently 122.31%.

Insider Transactions at Global Partners

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the transaction, the chief operating officer now directly owns 156,198 shares of the company's stock, valued at approximately $8,444,063.88. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 41.50% of the company's stock.

Analyst Upgrades and Downgrades

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

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.