Global Partners LP (NYSE:GLP) Insider Global Gp Llc Buys 5,000 Shares

Global Partners LP (NYSE:GLP) insider Global Gp Llc bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $44.02 per share, with a total value of $220,100.00. Following the transaction, the insider now owns 266,081 shares of the company’s stock, valued at approximately $11,712,885.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Gp Llc also recently made the following trade(s):

• On Monday, September 16th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were acquired at an average price of $43.07 per share, with a total value of $215,350.00.
• On Friday, September 13th, Global Gp Llc bought 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.84 per share, for a total transaction of $214,200.00.
• On Tuesday, September 10th, Global Gp Llc purchased 4,800 shares of Global Partners stock. The stock was bought at an average price of $43.17 per share, with a total value of $207,216.00.
• On Thursday, September 5th, Global Gp Llc acquired 5,000 shares of Global Partners stock. The shares were bought at an average price of $42.40 per share, for a total transaction of $212,000.00.
• On Thursday, August 29th, Global Gp Llc bought 7,500 shares of Global Partners stock. The stock was purchased at an average cost of $45.08 per share, with a total value of $338,100.00.
• On Tuesday, August 27th, Global Gp Llc purchased 5,000 shares of Global Partners stock. The stock was purchased at an average price of $42.67 per share, with a total value of $213,350.00.
• On Monday, August 19th, Global Gp Llc acquired 2,400 shares of Global Partners stock. The shares were purchased at an average price of $41.88 per share, for a total transaction of $100,512.00.
• On Thursday, August 15th, Global Gp Llc bought 1,300 shares of Global Partners stock. The stock was purchased at an average price of $40.49 per share, with a total value of $52,637.00.

Global Partners Trading Up 2.8 %

GLP stock opened at $45.15 on Friday. Global Partners LP has a one year low of $27.07 and a one year high of $50.85. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 16.78 and a beta of 1.38. The company has a fifty day moving average price of $41.61 and a two-hundred day moving average price of $44.52. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.10 and a quick ratio of 0.62.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, August 7th. The energy company reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $5.51 billion. Global Partners had a net margin of 0.71% and a return on equity of 19.21%. Equities analysts anticipate that Global Partners LP will post 3.19 EPS for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.38%. This is a positive change from Global Partners’s previous quarterly dividend of $0.71. Global Partners’s dividend payout ratio (DPR) is 107.06%.

Institutional Trading of Global Partners

Several institutional investors have recently added to or reduced their stakes in the company. Granite Bay Wealth Management LLC lifted its holdings in shares of Global Partners by 6,200.0% during the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock worth $14,541,000 after buying an additional 310,000 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in Global Partners in the 1st quarter worth about $732,000. Blackstone Inc. boosted its holdings in Global Partners by 11.2% in the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock valued at $5,804,000 after purchasing an additional 13,800 shares during the period. Leo Wealth LLC acquired a new position in shares of Global Partners during the 4th quarter worth approximately $423,000. Finally, SVB Wealth LLC bought a new position in shares of Global Partners during the first quarter worth approximately $374,000. 38.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus boosted their price target on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

About Global Partners

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.