SVB Wealth LLC purchased a new stake in Global Partners LP (NYSE:GLP - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,080 shares of the energy company's stock, valued at approximately $330,000.
A number of other large investors have also recently bought and sold shares of GLP. Capital Performance Advisors LLP acquired a new position in Global Partners in the third quarter worth $93,000. Albert D Mason Inc. boosted its stake 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 worth $253,000 after purchasing an additional 575 shares in the last quarter. Stifel Financial Corp boosted its stake in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company's stock worth $1,478,000 after purchasing an additional 2,166 shares in the last quarter. ING Groep NV acquired a new position in Global Partners in the fourth quarter worth $1,536,000. Finally, JPMorgan Chase & Co. boosted its stake in Global Partners by 9,171.6% in the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company's stock worth $3,281,000 after purchasing an additional 69,704 shares in the last quarter. 38.12% of the stock is currently owned by institutional investors.
Global Partners Price Performance
Global Partners stock traded up $0.46 on Friday, reaching $53.36. The company's stock had a trading volume of 74,995 shares, compared to its average volume of 76,091. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 16.12 and a beta of 1.53. The business's fifty day moving average price is $53.46 and its 200 day moving average price is $49.80.
Global Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.55%. The ex-dividend date of this dividend was Monday, February 10th. This is a positive change from Global Partners's previous quarterly dividend of $0.73. Global Partners's dividend payout ratio is 122.31%.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus lowered Global Partners from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.
Check Out Our Latest Report on Global Partners
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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