Insider Buying: Global Partners LP (NYSE:GLP) Insider Acquires $194,875.20 in Stock

Global Partners LP (NYSE:GLPGet Rating) insider Global Gp Llc acquired 6,940 shares of Global Partners stock in a transaction that occurred on Tuesday, May 24th. The stock was acquired at an average cost of $28.08 per share, with a total value of $194,875.20. Following the completion of the purchase, the insider now owns 49,276 shares in the company, valued at approximately $1,383,670.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NYSE GLP opened at $29.90 on Friday. The company has a debt-to-equity ratio of 3.49, a quick ratio of 0.76 and a current ratio of 1.32. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 13.06 and a beta of 1.19. The business’s 50-day simple moving average is $27.28 and its 200-day simple moving average is $25.73. Global Partners LP has a 52 week low of $19.45 and a 52 week high of $29.97.

Global Partners (NYSE:GLPGet Rating) last issued its quarterly earnings data on Friday, May 6th. The energy company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.87. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $3.69 billion. Global Partners had a return on equity of 24.40% and a net margin of 0.63%. As a group, equities research analysts forecast that Global Partners LP will post 3.45 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Monday, May 9th were issued a dividend of $0.595 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Friday, May 6th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 7.96%. Global Partners’s dividend payout ratio is currently 103.93%.

Several research analysts have weighed in on GLP shares. Zacks Investment Research raised Global Partners from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, May 11th. StockNews.com raised Global Partners from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. Stifel Nicolaus upped their target price on Global Partners from $24.00 to $26.00 and gave the stock a “hold” rating in a research report on Tuesday, March 1st. Finally, TheStreet raised Global Partners from a “c+” rating to a “b” rating in a research report on Monday, May 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $25.00.

Several hedge funds and other institutional investors have recently modified their holdings of GLP. Pallas Capital Advisors LLC increased its holdings in shares of Global Partners by 70.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 1,064,128 shares of the energy company’s stock valued at $25,050,000 after acquiring an additional 440,142 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Global Partners by 692.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 136,099 shares of the energy company’s stock valued at $3,711,000 after buying an additional 118,935 shares during the last quarter. Welch & Forbes LLC acquired a new stake in Global Partners in the 1st quarter valued at approximately $1,020,000. Bank of Montreal Can acquired a new stake in Global Partners in the 4th quarter valued at approximately $614,000. Finally, Greenwich Investment Management Inc. acquired a new stake in Global Partners in the 4th quarter valued at approximately $590,000.

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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