Alps Advisors Inc. Has $274.66 Million Position in Global Partners LP $GLP

Alps Advisors Inc. boosted its position in Global Partners LP (NYSE:GLP) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,721,969 shares of the energy company’s stock after purchasing an additional 275,906 shares during the period. Global Partners comprises 1.5% of Alps Advisors Inc.’s holdings, making the stock its 12th largest position. Alps Advisors Inc. owned about 16.83% of Global Partners worth $274,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Global Partners by 37.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock valued at $17,610,000 after acquiring an additional 90,169 shares during the period. Bank of America Corp DE increased its holdings in shares of Global Partners by 0.9% in the second quarter. Bank of America Corp DE now owns 137,822 shares of the energy company’s stock valued at $7,267,000 after purchasing an additional 1,227 shares during the last quarter. NBW Capital LLC raised its position in shares of Global Partners by 1.5% in the second quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock valued at $4,208,000 after purchasing an additional 1,181 shares during the period. Gilman Hill Asset Management LLC raised its position in shares of Global Partners by 20.1% in the third quarter. Gilman Hill Asset Management LLC now owns 43,592 shares of the energy company’s stock valued at $2,092,000 after purchasing an additional 7,285 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Global Partners by 1.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 30,094 shares of the energy company’s stock worth $1,445,000 after buying an additional 375 shares during the last quarter. 38.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLP has been the topic of a number of research reports. Stifel Nicolaus decreased their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Zacks Research raised Global Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Wall Street Zen lowered Global Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.00.

Global Partners Trading Down 0.7%

GLP opened at $46.97 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.47 and a beta of 1.00. The company has a 50-day simple moving average of $44.02 and a 200 day simple moving average of $46.63. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $60.00.

Global Partners (NYSE:GLP) last announced its quarterly earnings data on Friday, November 7th. The energy company reported $0.66 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.43). Global Partners had a net margin of 0.53% and a return on equity of 15.54%. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $7.21 billion. Analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Monday, February 9th will be issued a dividend of $0.76 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Monday, February 9th. This represents a $3.04 annualized dividend and a dividend yield of 6.5%. Global Partners’s payout ratio is presently 144.50%.

Global Partners Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.