Alps Advisors Inc. Boosts Stock Holdings in Global Partners LP $GLP

Alps Advisors Inc. raised its holdings in Global Partners LP (NYSE:GLP) by 4.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,999,844 shares of the energy company’s stock after acquiring an additional 277,875 shares during the period. Global Partners makes up 1.5% of Alps Advisors Inc.’s investment portfolio, making the stock its 12th largest position. Alps Advisors Inc. owned 0.18% of Global Partners worth $251,093,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Global Partners by 4.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after purchasing an additional 85,347 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock valued at $25,457,000 after acquiring an additional 67,337 shares during the period. JPMorgan Chase & Co. raised its holdings in Global Partners by 13.1% during the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock valued at $18,421,000 after acquiring an additional 50,890 shares during the period. UBS Group AG raised its holdings in Global Partners by 26.6% during the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock valued at $11,281,000 after acquiring an additional 49,319 shares during the period. Finally, Bank of America Corp DE raised its holdings in Global Partners by 0.9% during the 2nd quarter. Bank of America Corp DE now owns 137,822 shares of the energy company’s stock valued at $7,267,000 after acquiring an additional 1,227 shares during the period. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 7,500 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $47.39, for a total value of $355,425.00. Following the completion of the transaction, the chief operating officer directly owned 151,609 shares in the company, valued at approximately $7,184,750.51. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 21,311 shares of company stock valued at $1,014,249 in the last ninety days. 41.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLP. Wall Street Zen cut shares of Global Partners from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 24th. Weiss Ratings raised shares of Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. Zacks Research raised shares of Global Partners from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Stifel Nicolaus boosted their target price on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Global Partners presently has an average rating of “Buy” and a consensus price target of $46.00.

Global Partners Trading Up 1.6%

Global Partners stock opened at $49.72 on Friday. The stock has a market cap of $1.69 billion, a P/E ratio of 13.81 and a beta of 1.01. Global Partners LP has a fifty-two week low of $39.58 and a fifty-two week high of $56.51. The firm’s fifty day moving average price is $47.65 and its 200-day moving average price is $46.13. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.64 and a current ratio of 1.12.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $0.33 by $1.52. The firm had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $6.98 billion. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. Equities research analysts forecast that Global Partners LP will post 4.71 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Monday, May 11th were given a $0.765 dividend. This represents a $3.06 annualized dividend and a yield of 6.2%. This is a boost from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, May 11th. Global Partners’s dividend payout ratio (DPR) is presently 85.00%.

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.