Other institutional investors also recently added to or reduced their stakes in the company. Advisory Research Inc. boosted its position in Global Partners by 710.6% in the second quarter. Advisory Research Inc. now owns 217,375 shares of the company’s stock worth $2,980,000 after buying an additional 190,560 shares during the period. Royal Bank of Canada boosted its position in Global Partners by 9.9% in the second quarter. Royal Bank of Canada now owns 317,959 shares of the company’s stock worth $4,359,000 after buying an additional 28,628 shares during the period. Creative Planning boosted its position in Global Partners by 42.1% in the third quarter. Creative Planning now owns 21,310 shares of the company’s stock worth $344,000 after buying an additional 6,310 shares during the period. Youngs Advisory Group Inc. boosted its position in Global Partners by 0.8% in the third quarter. Youngs Advisory Group Inc. now owns 13,448 shares of the company’s stock worth $217,000 after buying an additional 113 shares during the period. Finally, Solaris Asset Management LLC bought a new position in Global Partners during the third quarter worth $161,000. 38.04% of the stock is owned by institutional investors.
Moors & Cabot Inc. increased its position in Global Partners LP (NYSE:GLP) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 11,888 shares of the company’s stock after buying an additional 200 shares during the period. Moors & Cabot Inc.’s holdings in Global Partners were worth $191,000 as of its most recent filing with the SEC.
Shares of Global Partners LP (NYSE:GLP) traded down 0.49% during midday trading on Thursday, reaching $20.40. The company’s stock had a trading volume of 87,038 shares. The stock has a 50-day moving average price of $20.02 and a 200 day moving average price of $16.60. Global Partners LP has a 52 week low of $12.28 and a 52 week high of $21.95. The stock’s market capitalization is $684.07 million.
Global Partners (NYSE:GLP) last released its quarterly earnings data on Monday, November 7th. The company reported ($3.54) earnings per share for the quarter, missing the consensus estimate of $0.01 by $3.55. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.45 billion. Global Partners had a negative return on equity of 2.65% and a negative net margin of 1.68%. The business’s revenue was down 18.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. Equities analysts forecast that Global Partners LP will post ($5.34) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Thursday, February 9th will be paid a dividend of $0.4625 per share. This represents a $1.85 annualized dividend and a dividend yield of 9.07%. The ex-dividend date is Tuesday, February 7th. Global Partners’s dividend payout ratio is presently -45.79%.
A number of equities analysts have recently weighed in on GLP shares. Zacks Investment Research raised Global Partners from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 26th. Mitsubishi UFJ Financial Group reiterated an “underweight” rating and issued a $16.00 target price on shares of Global Partners in a research note on Wednesday, November 9th. Finally, Stifel Nicolaus upgraded Global Partners from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Thursday, December 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.20.
About Global Partners
Global Partners LP is a midstream logistics and marketing company. The Company is engaged in the purchasing, selling and logistics of transporting petroleum and related products, including domestic and Canadian crude oil, gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, natural gas and propane.
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