Texas Yale Capital Corp. held its stake in Global Partners LP (NYSE:GLP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,060 shares of the energy company’s stock at the end of the second quarter. Texas Yale Capital Corp. owned approximately 0.07% of Global Partners worth $452,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Creative Planning boosted its stake in Global Partners by 54.3% in the first quarter. Creative Planning now owns 15,297 shares of the energy company’s stock valued at $298,000 after buying an additional 5,383 shares during the period. Goldman Sachs Group Inc. boosted its stake in Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock valued at $15,443,000 after buying an additional 70,756 shares during the period. Winslow Evans & Crocker Inc. boosted its stake in Global Partners by 81.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock valued at $1,052,000 after buying an additional 25,691 shares during the period. OppenheimerFunds Inc. boosted its stake in Global Partners by 5.2% in the first quarter. OppenheimerFunds Inc. now owns 4,062,473 shares of the energy company’s stock valued at $79,218,000 after buying an additional 201,405 shares during the period. Finally, Morgan Stanley boosted its stake in Global Partners by 13.6% in the first quarter. Morgan Stanley now owns 2,859,113 shares of the energy company’s stock valued at $55,754,000 after buying an additional 341,554 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.
Shares of Global Partners LP (NYSE:GLP) opened at 16.05 on Tuesday. The stock’s 50 day moving average is $17.56 and its 200-day moving average is $18.69. The company’s market cap is $538.54 million. Global Partners LP has a one year low of $14.51 and a one year high of $21.95.
Global Partners (NYSE:GLP) last posted its quarterly earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the company earned ($0.22) EPS. The business’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts expect that Global Partners LP will post $0.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Wednesday, August 9th were given a dividend of $0.463 per share. This represents a $1.85 dividend on an annualized basis and a dividend yield of 11.54%. The ex-dividend date of this dividend was Monday, August 7th. Global Partners’s payout ratio is -39.11%.
Several analysts recently weighed in on GLP shares. BidaskClub cut shares of Global Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. Zacks Investment Research cut shares of Global Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 price target on shares of Global Partners in a report on Friday, June 23rd. Finally, Janney Montgomery Scott started coverage on shares of Global Partners in a report on Friday, June 23rd. They issued a “neutral” rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $18.40.
Global Partners Company Profile
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
Want to see what other hedge funds are holding GLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP).
Receive News & Ratings for Global Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.