Infrastructure Capital Advisors LLC Has $6.57 Million Stock Position in Global Partners LP (NYSE:GLP)

Infrastructure Capital Advisors LLC raised its stake in Global Partners LP (NYSE:GLP - Free Report) by 57.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,147 shares of the energy company's stock after acquiring an additional 51,630 shares during the period. Global Partners makes up about 0.9% of Infrastructure Capital Advisors LLC's portfolio, making the stock its 24th biggest holding. Infrastructure Capital Advisors LLC owned approximately 0.42% of Global Partners worth $6,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of GLP. International Assets Investment Management LLC bought a new stake in Global Partners during the second quarter worth about $41,000. Capital Performance Advisors LLP bought a new position in Global Partners in the third quarter valued at approximately $93,000. Spinnaker Trust acquired a new position in Global Partners during the second quarter valued at approximately $203,000. Albert D Mason Inc. raised its position in Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company's stock valued at $222,000 after purchasing an additional 300 shares in the last quarter. Finally, Stratos Wealth Advisors LLC bought a new stake in Global Partners during the third quarter worth $225,000. 38.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, insider Global Gp Llc purchased 2,226 shares of the business's stock in a transaction dated Friday, September 20th. The shares were purchased at an average cost of $44.71 per share, with a total value of $99,524.46. Following the completion of the purchase, the insider now owns 268,307 shares of the company's stock, valued at $11,996,005.97. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have purchased 27,026 shares of company stock valued at $1,168,390. 41.50% of the stock is currently owned by insiders.

Global Partners Price Performance

Shares of GLP traded up $1.57 during mid-day trading on Friday, reaching $56.32. The company had a trading volume of 40,014 shares, compared to its average volume of 96,873. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 17.02 and a beta of 1.38. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The company's 50 day simple moving average is $48.32 and its 200 day simple moving average is $45.25. Global Partners LP has a 1-year low of $35.60 and a 1-year high of $56.45.

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 given a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 5.18%. This is a positive change from Global Partners's previous quarterly dividend of $0.72. Global Partners's dividend payout ratio (DPR) is currently 88.22%.

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.