Commonwealth Equity Services LLC Sells 653 Shares of Global Partners LP (NYSE:GLP)

Commonwealth Equity Services LLC trimmed its position in Global Partners LP (NYSE:GLP) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 22,258 shares of the energy company’s stock after selling 653 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of Global Partners worth $1,036,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Global Partners by 54.1% in the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. Albert D Mason Inc. boosted its stake in shares of Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Global Partners during the 4th quarter worth approximately $330,000. BBR Partners LLC acquired a new stake in shares of Global Partners during the 4th quarter worth approximately $337,000. Finally, Stifel Financial Corp raised its stake in shares of Global Partners by 7.3% during the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after buying an additional 2,166 shares during the last quarter. 38.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Global Partners

In related news, COO Mark Romaine sold 2,195 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $54.06, for a total value of $118,661.70. Following the completion of the sale, the chief operating officer now owns 156,198 shares in the company, valued at $8,444,063.88. This represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 41.50% of the stock is currently owned by corporate insiders.

Global Partners Trading Down 0.6 %

NYSE GLP opened at $53.70 on Tuesday. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The stock has a 50-day simple moving average of $55.42 and a 200 day simple moving average of $51.11. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $1.83 billion, a PE ratio of 16.22 and a beta of 1.53.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a $0.74 dividend. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.51%. Global Partners’s dividend payout ratio is 122.31%.

Analyst Ratings Changes

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

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.