Pallas Capital Advisors LLC Sells 1,434,498 Shares of Global Partners LP (NYSE:GLP)

Pallas Capital Advisors LLC lessened its stake in shares of Global Partners LP (NYSE:GLPFree Report) by 99.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,680 shares of the energy company’s stock after selling 1,434,498 shares during the period. Pallas Capital Advisors LLC’s holdings in Global Partners were worth $325,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clear Street Markets LLC purchased a new position in shares of Global Partners in the first quarter valued at about $28,000. Tower Research Capital LLC TRC lifted its position in shares of Global Partners by 211.6% in the first quarter. Tower Research Capital LLC TRC now owns 1,072 shares of the energy company’s stock valued at $33,000 after acquiring an additional 728 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of Global Partners in the third quarter valued at about $35,000. Credit Suisse AG purchased a new position in shares of Global Partners in the second quarter valued at about $67,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Global Partners in the third quarter valued at about $138,000. Institutional investors own 38.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GLP. StockNews.com upgraded Global Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 13th. Stifel Nicolaus boosted their target price on Global Partners from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 27th.

View Our Latest Research Report on Global Partners

Global Partners Trading Up 0.4 %

Shares of GLP stock opened at $45.37 on Wednesday. Global Partners LP has a 1 year low of $27.07 and a 1 year high of $49.50. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.12 and a quick ratio of 0.71. The stock’s 50 day simple moving average is $46.41 and its two-hundred day simple moving average is $39.59. The company has a market cap of $1.54 billion, a PE ratio of 12.07 and a beta of 1.35.

Global Partners (NYSE:GLPGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.39 billion. Research analysts predict that Global Partners LP will post 3.9 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.70 per share. The ex-dividend date was Wednesday, February 7th. This is an increase from Global Partners’s previous quarterly dividend of $0.69. This represents a $2.80 dividend on an annualized basis and a yield of 6.17%. Global Partners’s dividend payout ratio is 74.47%.

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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Institutional Ownership by Quarter for Global Partners (NYSE:GLP)

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