BNP Paribas Financial Markets Sells 47,930 Shares of Global Partners LP (NYSE:GLP)

BNP Paribas Financial Markets lessened its holdings in shares of Global Partners LP (NYSE:GLP) by 62.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,332 shares of the energy company’s stock after selling 47,930 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.09% of Global Partners worth $1,365,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC raised its position in shares of Global Partners by 1.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company’s stock valued at $720,000 after purchasing an additional 226 shares during the period. US Bancorp DE increased its position in Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock worth $66,000 after acquiring an additional 500 shares during the period. Virtu Financial LLC bought a new position in Global Partners during the fourth quarter worth $288,000. XTX Topco Ltd bought a new position in Global Partners during the fourth quarter worth $302,000. Finally, SVB Wealth LLC bought a new position in Global Partners during the fourth quarter worth $330,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Trading Down 1.4%

Shares of GLP stock opened at $48.68 on Tuesday. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00. The firm’s fifty day simple moving average is $51.05 and its 200 day simple moving average is $52.05. The firm has a market capitalization of $1.65 billion, a P/E ratio of 14.71 and a beta of 1.02. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41.

Global Partners (NYSE:GLP) last announced its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.39. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. The business had revenue of $4.59 billion for the quarter, compared to analyst estimates of $5.64 billion. As a group, sell-side analysts predict that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were issued a dividend of $0.745 per share. This represents a $2.98 dividend on an annualized basis and a dividend yield of 6.12%. This is an increase from Global Partners’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Friday, May 9th. Global Partners’s dividend payout ratio (DPR) is presently 94.60%.

Insider Activity

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the sale, the chief operating officer now directly owns 156,198 shares in the company, valued at $8,444,063.88. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 41.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered shares of Global Partners from a “buy” rating to a “hold” rating and boosted their target price for the stock from $54.00 to $56.00 in a research report on Tuesday, March 4th.

Global Partners Profile

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.