Global Partners LP $GLP Shares Bought by US Bancorp DE

US Bancorp DE boosted its position in shares of Global Partners LP (NYSE:GLP) by 42.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,037 shares of the energy company’s stock after purchasing an additional 612 shares during the period. US Bancorp DE’s holdings in Global Partners were worth $109,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Inspire Advisors LLC bought a new position in shares of Global Partners in the 1st quarter worth about $216,000. Cetera Investment Advisers grew its stake in shares of Global Partners by 1.1% in the 1st quarter. Cetera Investment Advisers now owns 17,692 shares of the energy company’s stock worth $944,000 after purchasing an additional 196 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Global Partners by 12.8% in the first quarter. Alps Advisors Inc. now owns 5,584,745 shares of the energy company’s stock worth $298,114,000 after acquiring an additional 635,126 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Global Partners by 0.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,230 shares of the energy company’s stock worth $1,667,000 after purchasing an additional 259 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its position in Global Partners by 8.1% during the 1st quarter. Pallas Capital Advisors LLC now owns 1,601,904 shares of the energy company’s stock worth $85,510,000 after purchasing an additional 119,924 shares in the last quarter. 38.12% of the stock is currently owned by institutional investors.

Global Partners Price Performance

Shares of Global Partners stock opened at $49.94 on Monday. The firm has a fifty day simple moving average of $52.31 and a 200-day simple moving average of $52.74. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 2.74. Global Partners LP has a 1-year low of $39.89 and a 1-year high of $60.00. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 19.21 and a beta of 1.02.

Global Partners (NYSE:GLP) last released its earnings results on Thursday, August 7th. The energy company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.05). The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $5.98 billion. Global Partners had a net margin of 0.64% and a return on equity of 17.95%. On average, sell-side analysts expect that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Friday, August 8th were issued a $0.75 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, August 8th. This represents a $3.00 annualized dividend and a yield of 6.0%. Global Partners’s payout ratio is presently 115.38%.

Insider Transactions at Global Partners

In other news, COO Mark Romaine sold 1,881 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $51.68, for a total value of $97,210.08. Following the sale, the chief operating officer owned 148,531 shares of the company’s stock, valued at approximately $7,676,082.08. This represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders have sold 18,000 shares of company stock valued at $944,221. Insiders own 41.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Global Partners to a “strong-buy” rating in a research report on Monday, August 11th.

Global Partners Company 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.