Proficio Capital Partners LLC Buys 5,693,750 Shares of Global Partners LP (NYSE:GLP)

Proficio Capital Partners LLC raised its stake in Global Partners LP (NYSE:GLP) by 4,555.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,818,750 shares of the energy company’s stock after acquiring an additional 5,693,750 shares during the period. Proficio Capital Partners LLC owned approximately 17.11% of Global Partners worth $270,863,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GLP. Fiducient Advisors LLC bought a new stake in Global Partners in the 3rd quarter valued at $474,000. Capital Performance Advisors LLP bought a new stake in Global Partners in the 3rd quarter valued at $93,000. Infrastructure Capital Advisors LLC increased its holdings in Global Partners by 57.7% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock valued at $6,572,000 after acquiring an additional 51,630 shares during the last quarter. Stifel Financial Corp increased its holdings in Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after acquiring an additional 2,166 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after acquiring an additional 69,704 shares during the last quarter. 38.12% of the stock is currently owned by institutional investors.

Global Partners Stock Performance

Global Partners stock opened at $58.84 on Thursday. The company’s 50-day moving average price is $52.45 and its 200-day moving average price is $49.05. 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. The company has a market cap of $2.00 billion, a PE ratio of 17.78 and a beta of 1.47.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were issued a $0.74 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.03%. Global Partners’s payout ratio is 89.43%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price target on shares of Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th.

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.