Alps Advisors Inc. Purchases 275,906 Shares of Global Partners LP $GLP

Alps Advisors Inc. lifted its position in shares of Global Partners LP (NYSE:GLP) by 5.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,721,969 shares of the energy company’s stock after acquiring an additional 275,906 shares during the quarter. Global Partners makes up approximately 1.5% of Alps Advisors Inc.’s portfolio, making the stock its 12th biggest position. Alps Advisors Inc. owned 0.17% of Global Partners worth $274,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GLP. State of Wyoming raised its position in Global Partners by 110.2% in the third quarter. State of Wyoming now owns 2,304 shares of the energy company’s stock valued at $111,000 after purchasing an additional 1,208 shares during the last quarter. First Horizon Corp bought a new stake in shares of Global Partners during the third quarter worth about $120,000. Traub Capital Management LLC acquired a new position in shares of Global Partners in the second quarter valued at approximately $192,000. Geneos Wealth Management Inc. raised its holdings in Global Partners by 89.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,245 shares of the energy company’s stock valued at $224,000 after buying an additional 2,000 shares during the last quarter. Finally, MGO One Seven LLC acquired a new stake in Global Partners during the 2nd quarter worth approximately $227,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Stock Down 0.7%

Shares of NYSE:GLP opened at $46.97 on Friday. Global Partners LP has a 1 year low of $39.58 and a 1 year high of $60.00. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.21 and a quick ratio of 0.70. The business’s 50-day moving average is $44.02 and its 200-day moving average is $46.63. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.47 and a beta of 1.00.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, November 7th. The energy company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.43). The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $7.21 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.54%. Equities research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Monday, February 9th will be issued a $0.76 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, February 9th. Global Partners’s dividend payout ratio is 144.50%.

Analyst Upgrades and Downgrades

GLP has been the topic of a number of research reports. Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 6th. Wall Street Zen lowered shares of Global Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Stifel Nicolaus decreased their price objective on Global Partners from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Partners presently has a consensus rating of “Hold” and an average price target of $45.00.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.