Global Partners LP (NYSE:GLP) Shares Sold by Hartree Partners LP

Hartree Partners LP lowered its stake in Global Partners LP (NYSE:GLP) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,080 shares of the energy company’s stock after selling 200,000 shares during the period. Global Partners accounts for 8.8% of Hartree Partners LP’s holdings, making the stock its 2nd largest holding. Hartree Partners LP’s holdings in Global Partners were worth $23,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of Global Partners in the 4th quarter valued at $330,000. JPMorgan Chase & Co. boosted its holdings in Global Partners by 9,171.6% in the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after acquiring an additional 69,704 shares in the last quarter. ING Groep NV bought a new position in shares of Global Partners in the 4th quarter worth $1,536,000. Raymond James Financial Inc. acquired a new position in shares of Global Partners during the fourth quarter valued at about $6,510,000. Finally, Proficio Capital Partners LLC boosted its stake in Global Partners by 4,555.0% during the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after purchasing an additional 5,693,750 shares during the last quarter. 38.12% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Global Partners

In other Global Partners news, COO Mark Romaine sold 2,195 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the sale, the chief operating officer now directly owns 156,198 shares in the company, valued at $8,444,063.88. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 41.50% of the company’s stock.

Global Partners Price Performance

Shares of NYSE GLP opened at $54.03 on Friday. The stock’s 50 day moving average price is $55.40 and its 200-day moving average price is $50.98. The company has a market capitalization of $1.84 billion, a PE ratio of 16.32 and a beta of 1.53. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were given a $0.74 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. This represents a $2.96 annualized dividend and a yield of 5.48%. Global Partners’s payout ratio is currently 122.31%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus downgraded shares of Global Partners from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

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.