Global Partners (NYSE:GLP) Shares Gap Down to $43.47

Global Partners LP (NYSE:GLP)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $43.47, but opened at $42.41. Global Partners shares last traded at $43.17, with a volume of 808 shares.

Wall Street Analyst Weigh In

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

Global Partners Trading Down 1.9 %

The company has a market cap of $1.52 billion, a P/E ratio of 16.08 and a beta of 1.38. 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 business has a 50 day moving average price of $45.96 and a 200-day moving average price of $45.65.

Global Partners (NYSE:GLP) last announced its quarterly earnings data 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 company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $5.22 billion. Analysts forecast that Global Partners LP will post 3.11 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Thursday, May 9th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.66%. The ex-dividend date was Wednesday, May 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.70. Global Partners’s dividend payout ratio is 105.58%.

Insider Activity at Global Partners

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Fractal Investments LLC increased its position in Global Partners by 46.5% during the 4th quarter. Fractal Investments LLC now owns 195,234 shares of the energy company’s stock worth $8,260,000 after buying an additional 62,000 shares during the period. Blackstone Inc. grew its holdings in shares of Global Partners by 11.2% during the 4th quarter. Blackstone Inc. now owns 137,175 shares of the energy company’s stock worth $5,804,000 after purchasing an additional 13,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Global Partners by 0.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 113,527 shares of the energy company’s stock worth $5,038,000 after purchasing an additional 319 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Global Partners by 0.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 42,216 shares of the energy company’s stock worth $1,786,000 after purchasing an additional 342 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Global Partners during the 4th quarter worth $1,611,000. Institutional investors own 38.12% of the company’s stock.

About Global Partners

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.