Proficio Capital Partners LLC Has $7.10 Million Position in Global Partners LP (NYSE:GLP)

Proficio Capital Partners LLC cut its position in shares of Global Partners LP (NYSE:GLP) by 19.4% during the 1st quarter, Holdings Channel reports. The firm owned 160,000 shares of the energy company’s stock after selling 38,609 shares during the quarter. Global Partners comprises 0.8% of Proficio Capital Partners LLC’s portfolio, making the stock its 28th biggest holding. Proficio Capital Partners LLC’s holdings in Global Partners were worth $7,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fractal Investments LLC increased its holdings in shares of Global Partners by 46.5% in the fourth quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock valued at $8,260,000 after purchasing an additional 62,000 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Global Partners in the 4th quarter valued at about $1,611,000. Raymond James Financial Services Advisors Inc. grew its stake in Global Partners by 34.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock valued at $4,790,000 after buying an additional 28,735 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Global Partners in the 1st quarter valued at about $732,000. Finally, Citigroup Inc. acquired a new stake in Global Partners during the third quarter worth approximately $494,000. 38.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Global Partners

In related news, insider Global Gp Llc purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average price of $43.29 per share, with a total value of $432,900.00. Following the completion of the purchase, the insider now directly owns 47,981 shares in the company, valued at $2,077,097.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders purchased 110,000 shares of company stock valued at $4,979,700 in the last three months. Corporate insiders own 41.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd.

Global Partners Stock Performance

GLP stock traded up $0.40 during trading hours on Tuesday, hitting $45.54. 178,238 shares of the stock were exchanged, compared to its average volume of 120,666. The company has a current ratio of 1.17, a quick ratio of 0.76 and a debt-to-equity ratio of 2.23. The company has a 50-day simple moving average of $46.11 and a two-hundred day simple moving average of $45.66. Global Partners LP has a 12 month low of $27.07 and a 12 month high of $50.85. The firm has a market capitalization of $1.54 billion, a P/E ratio of 16.93 and a beta of 1.38.

Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, May 8th. The energy company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.47). Global Partners had a return on equity of 18.45% and a net margin of 0.71%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $5.22 billion. On average, analysts forecast that Global Partners LP will post 3.11 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date of this dividend was Wednesday, May 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s dividend payout ratio (DPR) is 105.58%.

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.