Global Partners LP (NYSE:GLP) Insider Global Gp Llc Acquires 2,226 Shares

Global Partners LP (NYSE:GLP) insider Global Gp Llc purchased 2,226 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average cost of $44.71 per share, for a total transaction of $99,524.46. Following the purchase, the insider now directly owns 268,307 shares in the company, valued at approximately $11,996,005.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Global Gp Llc also recently made the following trade(s):

• On Wednesday, September 18th, Global Gp Llc bought 5,000 shares of Global Partners stock. The stock was purchased at an average price of $44.02 per share, for a total transaction of $220,100.00.
• On Monday, September 16th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The shares were purchased at an average price of $43.07 per share, with a total value of $215,350.00.
• On Friday, September 13th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.84 per share, for a total transaction of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc bought 4,800 shares of Global Partners stock. The shares were acquired at an average cost of $43.17 per share, with a total value of $207,216.00.
• On Thursday, September 5th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was acquired at an average cost of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc acquired 7,500 shares of Global Partners stock. The stock was acquired at an average price of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.67 per share, for a total transaction of $213,350.00.
• On Monday, August 19th, Global Gp Llc purchased 2,400 shares of Global Partners stock. The stock was bought at an average cost of $41.88 per share, with a total value of $100,512.00.
• On Thursday, August 15th, Global Gp Llc acquired 1,300 shares of Global Partners stock. The shares were bought at an average cost of $40.49 per share, for a total transaction of $52,637.00.

Global Partners Trading Down 2.1 %

Shares of Global Partners stock traded down $0.98 during mid-day trading on Tuesday, hitting $45.53. The stock had a trading volume of 27,761 shares, compared to its average volume of 107,364. The firm has a 50-day moving average of $41.72 and a two-hundred day moving average of $44.46. The firm has a market cap of $1.54 billion, a P/E ratio of 17.10 and a beta of 1.38. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52. Global Partners LP has a 12-month low of $27.07 and a 12-month high of $50.85.

Global Partners (NYSE:GLP) last posted its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.40). Global Partners had a return on equity of 19.21% and a net margin of 0.71%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $5.51 billion. Sell-side analysts forecast that Global Partners LP will post 3.19 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 8th were given a $0.72 dividend. The ex-dividend date was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a yield of 6.33%. This is a boost from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio is presently 107.06%.

Institutional Investors Weigh In On Global Partners

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the second quarter valued at $41,000. Spinnaker Trust acquired a new position in Global Partners in the 2nd quarter valued at about $203,000. Virtu Financial LLC purchased a new stake in Global Partners during the fourth quarter worth about $206,000. Albert D Mason Inc. increased its stake in Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after purchasing an additional 300 shares during the period. Finally, Crescent Grove Advisors LLC acquired a new stake in shares of Global Partners during the first quarter worth about $318,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lifted their price target on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

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.