Global Partners LP (NYSE:GLP) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Global Partners LP (NYSE:GLP) by 9,171.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,464 shares of the energy company’s stock after buying an additional 69,704 shares during the quarter. JPMorgan Chase & Co. owned 0.21% of Global Partners worth $3,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Global Partners during the 3rd quarter valued at approximately $93,000. Stratos Wealth Advisors LLC acquired a new stake in Global Partners in the third quarter valued at $225,000. Fiducient Advisors LLC bought a new position in Global Partners during the 3rd quarter valued at $474,000. Stifel Financial Corp grew its holdings in Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Global Partners by 2.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after purchasing an additional 725 shares during the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.

Global Partners Stock Performance

GLP opened at $52.41 on Monday. The business has a 50 day moving average price of $50.65 and a two-hundred day moving average price of $46.23. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.83 and a beta of 1.47. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $58.76.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a $0.73 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.92 annualized dividend and a dividend yield of 5.57%. This is a boost from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s dividend payout ratio is currently 88.22%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus upped their price target on Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th.

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.