GSA Capital Partners LLP Purchases New Stake in Global Partners LP $GLP

GSA Capital Partners LLP purchased a new stake in shares of Global Partners LP (NYSE:GLP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 10,790 shares of the energy company’s stock, valued at approximately $518,000.

A number of other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Global Partners by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company’s stock worth $18,685,000 after purchasing an additional 55,304 shares during the period. PNC Financial Services Group Inc. purchased a new position in Global Partners during the 3rd quarter valued at about $48,000. ING Groep NV bought a new position in Global Partners during the 3rd quarter valued at approximately $1,296,000. Alps Advisors Inc. lifted its holdings in Global Partners by 5.1% in the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock worth $274,655,000 after buying an additional 275,906 shares during the period. Finally, Spinnaker Trust lifted its holdings in Global Partners by 6.6% in the 3rd quarter. Spinnaker Trust now owns 4,850 shares of the energy company’s stock worth $233,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Global Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Stifel Nicolaus cut their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, November 11th. Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Partners currently has a consensus rating of “Hold” and an average target price of $45.00.

Global Partners Price Performance

Shares of GLP stock opened at $48.07 on Tuesday. The business’s fifty day moving average is $44.87 and its 200 day moving average is $46.32. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 2.75. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 23.00 and a beta of 1.00. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $59.20.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, February 9th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a yield of 6.3%. Global Partners’s payout ratio is presently 145.45%.

Global Partners Profile

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.