Kayne Anderson Capital Advisors LP raised its stake in shares of Global Partners LP (NYSE:GLP) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,354,159 shares of the energy company’s stock after purchasing an additional 10,400 shares during the period. Global Partners accounts for about 0.7% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 27th biggest position. Kayne Anderson Capital Advisors LP owned about 6.93% of Global Partners worth $46,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Invesco Ltd. bought a new position in shares of Global Partners during the second quarter valued at approximately $115,805,000. Cetera Advisor Networks LLC bought a new position in shares of Global Partners during the second quarter valued at approximately $544,000. First Trust Advisors LP grew its stake in shares of Global Partners by 9.0% during the third quarter. First Trust Advisors LP now owns 324,006 shares of the energy company’s stock valued at $6,354,000 after buying an additional 26,619 shares during the last quarter. Arrow Investment Advisors LLC bought a new position in shares of Global Partners during the second quarter valued at approximately $411,000. Finally, Advantage Investment Management LLC bought a new position in shares of Global Partners during the second quarter valued at approximately $286,000. Institutional investors and hedge funds own 38.16% of the company’s stock.
A number of research analysts have recently commented on GLP shares. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd. ValuEngine raised Global Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 29th.
NYSE:GLP traded down $0.38 during midday trading on Friday, hitting $19.95. The stock had a trading volume of 133,800 shares, compared to its average volume of 77,422. Global Partners LP has a one year low of $13.63 and a one year high of $21.62. The company has a market capitalization of $691.02 million, a price-to-earnings ratio of 11.53 and a beta of 0.90. The stock has a 50-day moving average of $20.06 and a 200 day moving average of $19.87. The company has a quick ratio of 0.72, a current ratio of 1.33 and a debt-to-equity ratio of 3.55.
Global Partners (NYSE:GLP) last announced its quarterly earnings data on Thursday, November 7th. The energy company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.54. Global Partners had a return on equity of 14.37% and a net margin of 0.45%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, sell-side analysts anticipate that Global Partners LP will post 0.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Friday, November 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.08 annualized dividend and a yield of 10.43%. This is a boost from Global Partners’s previous quarterly dividend of $0.52. Global Partners’s dividend payout ratio is 119.08%.
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 in the New England states and New York.
Read More: Intrinsic Value and Stock Selection
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