US Bancorp DE Acquires 500 Shares of Global Partners LP (NYSE:GLP)

US Bancorp DE lifted its holdings in Global Partners LP (NYSE:GLP) by 54.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,425 shares of the energy company’s stock after acquiring an additional 500 shares during the period. US Bancorp DE’s holdings in Global Partners were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC grew its stake in shares of Global Partners by 4,555.0% in the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after buying an additional 5,693,750 shares during the period. Infrastructure Capital Advisors LLC grew its stake in shares of Global Partners by 57.7% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock valued at $6,572,000 after buying an additional 51,630 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after buying an additional 69,704 shares during the period. ING Groep NV acquired a new stake in shares of Global Partners in the 4th quarter valued at about $1,536,000. Finally, Stifel Financial Corp grew its stake in shares of Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after buying an additional 2,166 shares during the period. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stifel Nicolaus downgraded Global Partners from a “buy” rating to a “hold” rating and raised their target price for the company from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Global Partners Price Performance

GLP stock opened at $54.79 on Tuesday. The company has a market capitalization of $1.86 billion, a P/E ratio of 16.55 and a beta of 1.53. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00. The business has a 50-day simple moving average of $54.41 and a two-hundred day simple moving average of $50.34.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were paid a dividend of $0.74 per share. The ex-dividend date was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.40%. This is an increase from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s payout ratio is 122.31%.

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.