Invesco Ltd. reduced its stake in Global Partners LP (NYSE:GLP - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,560,781 shares of the energy company's stock after selling 6,662 shares during the period. Invesco Ltd. owned approximately 7.53% of Global Partners worth $119,204,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC lifted its stake in Global Partners by 4,555.0% during the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock worth $270,863,000 after purchasing an additional 5,693,750 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Global Partners during the 4th quarter worth $6,510,000. JPMorgan Chase & Co. boosted its stake in Global Partners by 53.8% in the fourth quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock valued at $5,044,000 after buying an additional 37,893 shares in the last quarter. NBW Capital LLC bought a new position in Global Partners in the fourth quarter valued at about $2,431,000. Finally, ING Groep NV acquired a new position in Global Partners during the fourth quarter worth about $1,536,000. Institutional investors and hedge funds own 38.12% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus downgraded shares of Global Partners from a "buy" rating to a "hold" rating and upped their price target for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.
Get Our Latest Stock Analysis on Global Partners
Global Partners Stock Up 3.9 %
Global Partners stock opened at $47.63 on Friday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 14.39 and a beta of 1.16. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00. 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 firm has a 50 day moving average price of $54.50 and a two-hundred day moving average price of $51.39.
Global Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were given a dividend of $0.74 per share. This is an increase from Global Partners's previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. This represents a $2.96 annualized dividend and a dividend yield of 6.21%. Global Partners's dividend payout ratio (DPR) is 122.31%.
Insider Activity
In other news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now owns 156,198 shares in the company, valued at approximately $8,444,063.88. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.50% of the stock is currently owned by company insiders.
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.
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