Global Partners LP $GLP Shares Bought by Waverly Advisors LLC

Waverly Advisors LLC increased its holdings in Global Partners LP (NYSE:GLP) by 42.9% during the second quarter, Holdings Channel reports. The firm owned 82,816 shares of the energy company’s stock after purchasing an additional 24,868 shares during the period. Waverly Advisors LLC’s holdings in Global Partners were worth $3,858,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLP. Bank of America Corp DE bought a new stake in Global Partners during the second quarter worth approximately $264,000. Ancora Advisors LLC bought a new position in shares of Global Partners in the second quarter valued at $156,000. Bard Associates Inc. bought a new position in shares of Global Partners in the second quarter valued at $936,000. Ieq Capital LLC acquired a new stake in shares of Global Partners during the 2nd quarter valued at $117,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Global Partners during the 2nd quarter valued at $2,952,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Global Partners Price Performance

Shares of NYSE:GLP opened at $52.95 on Friday. The company’s fifty day moving average is $49.97 and its two-hundred day moving average is $48.09. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 2.44. Global Partners LP has a 12-month low of $39.58 and a 12-month high of $54.29. The company has a market cap of $1.80 billion, a P/E ratio of 10.79 and a beta of 1.06.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.62. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $7.51 billion. Global Partners had a return on equity of 30.87% and a net margin of 0.91%. Equities analysts expect that Global Partners LP will post 5.87 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 10th were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Monday, August 10th. This is a boost from Global Partners’s previous quarterly dividend of $0.77. Global Partners’s dividend payout ratio is 63.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Global Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Zacks Research downgraded Global Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Global Partners in a research report on Friday, August 21st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $46.00.

About Global Partners

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.