Blackstone Inc. Purchases 16,200 Shares of Global Partners LP (NYSE:GLP)

Blackstone Inc. grew its stake in shares of Global Partners LP (NYSE:GLPFree Report) by 15.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 123,375 shares of the energy company’s stock after purchasing an additional 16,200 shares during the quarter. Blackstone Inc.’s holdings in Global Partners were worth $4,358,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hartree Partners LP boosted its position in Global Partners by 13.1% in the 2nd quarter. Hartree Partners LP now owns 1,358,080 shares of the energy company’s stock worth $41,734,000 after purchasing an additional 157,022 shares in the last quarter. Morgan Stanley boosted its position in Global Partners by 56.1% in the 4th quarter. Morgan Stanley now owns 600,554 shares of the energy company’s stock worth $20,881,000 after purchasing an additional 215,771 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Global Partners by 73,023.4% in the 4th quarter. JPMorgan Chase & Co. now owns 569,631 shares of the energy company’s stock worth $19,806,000 after purchasing an additional 568,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Global Partners by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 390,913 shares of the energy company’s stock worth $13,807,000 after purchasing an additional 16,503 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Global Partners during the 3rd quarter valued at approximately $11,126,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Global Partners Price Performance

Shares of NYSE:GLP traded up $0.21 during midday trading on Thursday, reaching $45.99. 17,355 shares of the company’s stock traded hands, compared to its average volume of 192,635. Global Partners LP has a 1 year low of $27.07 and a 1 year high of $48.50. The company has a market cap of $1.56 billion, a P/E ratio of 11.89 and a beta of 1.38. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.71 and a current ratio of 1.14. The company has a fifty day simple moving average of $44.60 and a two-hundred day simple moving average of $37.05.

Global Partners (NYSE:GLPGet Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.39 billion. Global Partners had a return on equity of 24.37% and a net margin of 0.94%. Equities analysts predict that Global Partners LP will post 3.3 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Thursday, February 8th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.09%. This is an increase from Global Partners’s previous quarterly dividend of $0.69. The ex-dividend date was Wednesday, February 7th. Global Partners’s dividend payout ratio (DPR) is presently 71.98%.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their target price on Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 27th.

Get Our Latest Research Report on GLP

Insider Buying and Selling at Global Partners

In other news, insider Global Gp Llc bought 8,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was bought at an average cost of $37.78 per share, with a total value of $302,240.00. Following the transaction, the insider now directly owns 113,206 shares in the company, valued at approximately $4,276,922.68. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 41.50% of the stock is currently owned by corporate insiders.

Global Partners Company Profile

(Free Report)

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, Mid-Atlantic region, and New York.

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Institutional Ownership by Quarter for Global Partners (NYSE:GLP)

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