Insider Buying: Global Partners LP (NYSE:GLP) Insider Purchases 2,900 Shares of Stock

Global Partners LP (NYSE:GLPGet Rating) insider Global Gp Llc bought 2,900 shares of the stock in a transaction on Tuesday, June 21st. The shares were acquired at an average cost of $22.51 per share, with a total value of $65,279.00. Following the purchase, the insider now owns 121,701 shares of the company’s stock, valued at approximately $2,739,489.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, June 17th, Global Gp Llc bought 6,545 shares of Global Partners stock. The shares were acquired at an average cost of $20.46 per share, with a total value of $133,910.70.
  • On Wednesday, June 15th, Global Gp Llc bought 10,000 shares of Global Partners stock. The shares were acquired at an average cost of $24.09 per share, with a total value of $240,900.00.
  • On Tuesday, May 24th, Global Gp Llc bought 6,940 shares of Global Partners stock. The shares were acquired at an average cost of $28.08 per share, with a total value of $194,875.20.

Shares of Global Partners stock traded down $0.98 on Thursday, hitting $21.92. The stock had a trading volume of 112,413 shares, compared to its average volume of 109,977. The firm has a market capitalization of $745.28 million, a P/E ratio of 10.00 and a beta of 1.18. The stock has a 50 day moving average of $26.73 and a 200 day moving average of $26.08. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.76 and a current ratio of 1.32. Global Partners LP has a twelve month low of $19.45 and a twelve month high of $30.26.

Global Partners (NYSE:GLPGet Rating) last released its earnings results on Friday, May 6th. The energy company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.87. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $3.69 billion. Global Partners had a net margin of 0.63% and a return on equity of 24.40%. Equities analysts expect that Global Partners LP will post 3.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 13th. Shareholders of record on Monday, May 9th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 10.86%. The ex-dividend date of this dividend was Friday, May 6th. This is an increase from Global Partners’s previous quarterly dividend of $0.59. Global Partners’s dividend payout ratio is currently 103.93%.

A number of large investors have recently added to or reduced their stakes in GLP. Pallas Capital Advisors LLC boosted its holdings in shares of Global Partners by 26.6% during the 1st quarter. Pallas Capital Advisors LLC now owns 1,346,991 shares of the energy company’s stock worth $37,366,000 after buying an additional 282,863 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Global Partners by 2.1% during the 3rd quarter. Royal Bank of Canada now owns 198,416 shares of the energy company’s stock worth $4,202,000 after buying an additional 4,091 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Global Partners by 2.5% during the 4th quarter. First Trust Advisors LP now owns 169,277 shares of the energy company’s stock worth $3,976,000 after buying an additional 4,205 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Global Partners by 692.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 136,099 shares of the energy company’s stock worth $3,711,000 after buying an additional 118,935 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Global Partners by 20.6% during the 1st quarter. Bank of America Corp DE now owns 90,092 shares of the energy company’s stock worth $2,457,000 after buying an additional 15,360 shares in the last quarter.

Several research analysts have commented on GLP shares. TheStreet raised Global Partners from a “c+” rating to a “b” rating in a research note on Monday, May 23rd. Stifel Nicolaus upped their price objective on Global Partners from $24.00 to $26.00 and gave the company a “hold” rating in a research note on Tuesday, March 1st. Finally, StockNews.com raised Global Partners from a “hold” rating to a “buy” rating in a research note on Monday, May 9th.

Global Partners Company Profile (Get Rating)

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 in the New England states, Mid-Atlantic region, and New York.

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