PNC Financial Services Group Inc. trimmed its holdings in shares of Global Partners LP (NYSE:GLP - Free Report) by 47.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,478 shares of the energy company's stock after selling 5,740 shares during the period. PNC Financial Services Group Inc.'s holdings in Global Partners were worth $302,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the business. US Bancorp DE grew its holdings in shares of Global Partners by 54.1% in the 4th 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. boosted its position in Global Partners by 11.8% in the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock valued at $253,000 after buying an additional 575 shares in the last quarter. SVB Wealth LLC bought a new stake in Global Partners during the fourth quarter worth about $330,000. BBR Partners LLC acquired a new stake in shares of Global Partners during the fourth quarter worth approximately $337,000. Finally, Stifel Financial Corp raised its stake in shares of Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock valued at $1,478,000 after acquiring an additional 2,166 shares during the last quarter. 38.12% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus lowered Global Partners from a "buy" rating to a "hold" rating and increased their price target for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.
Get Our Latest Report on Global Partners
Global Partners Price Performance
NYSE GLP traded up $1.07 on Tuesday, hitting $53.75. 46,175 shares of the company were exchanged, compared to its average volume of 75,654. 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 company has a market cap of $1.83 billion, a P/E ratio of 16.24 and a beta of 1.53. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The firm has a 50 day moving average of $55.17 and a two-hundred day moving average of $50.73.
Global Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.51%. This is a positive change from Global Partners's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 10th. Global Partners's dividend payout ratio (DPR) is presently 122.31%.
Global Partners Company Profile
(
Free Report)
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.
Featured Articles

Before you consider Global Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Partners wasn't on the list.
While Global Partners currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.