Global Partners LP (NYSE:GLP) Shares Sold by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP cut its position in shares of Global Partners LP (NYSE:GLP) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,300 shares of the energy company’s stock after selling 5,000 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.11% of Global Partners worth $1,620,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new stake in shares of Global Partners during the 3rd quarter valued at about $35,000. Signaturefd LLC bought a new position in Global Partners during the fourth quarter worth about $85,000. Acadian Asset Management LLC acquired a new stake in shares of Global Partners during the third quarter worth about $138,000. Brown Advisory Inc. acquired a new stake in Global Partners in the 3rd quarter valued at approximately $212,000. Finally, Spinnaker Trust bought a new position in Global Partners in the third quarter valued at approximately $220,000. 38.12% of the stock is currently owned by institutional investors.

Global Partners Price Performance

Shares of Global Partners stock traded up $0.74 on Thursday, reaching $45.96. The stock had a trading volume of 8,100 shares, compared to its average volume of 131,560. The business’s 50 day moving average is $46.40 and its two-hundred day moving average is $42.24. Global Partners LP has a 1 year low of $27.07 and a 1 year high of $49.50. The company has a market cap of $1.56 billion, a P/E ratio of 12.08 and a beta of 1.33. The company has a current ratio of 1.12, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a net margin of 0.92% and a return on equity of 23.91%. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.39 billion. As a group, research analysts anticipate that Global Partners LP will post 3.53 EPS for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 6.18%. The ex-dividend date is Wednesday, May 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s payout ratio is currently 75.53%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

Global Partners Company Profile

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.