Global Partners LP (NYSE:GLP) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its stake in Global Partners LP (NYSE:GLP) by 4.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,111 shares of the energy company’s stock after selling 589 shares during the quarter. Raymond James Trust N.A.’s holdings in Global Partners were worth $564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Global Partners during the 2nd quarter valued at about $41,000. Capital Performance Advisors LLP acquired a new stake in Global Partners in the third quarter valued at approximately $93,000. Spinnaker Trust purchased a new stake in shares of Global Partners during the second quarter valued at approximately $203,000. Stratos Wealth Advisors LLC acquired a new position in shares of Global Partners during the third quarter worth $225,000. Finally, Albert D Mason Inc. boosted its stake in shares of Global Partners by 6.6% in the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock valued at $222,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Price Performance

Shares of NYSE GLP opened at $53.00 on Tuesday. The business has a 50 day moving average price of $47.45 and a two-hundred day moving average price of $44.94. Global Partners LP has a fifty-two week low of $33.50 and a fifty-two week high of $53.31. The firm has a market cap of $1.80 billion, a PE ratio of 16.01 and a beta of 1.38. 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 declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date was Friday, November 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s payout ratio is 88.22%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Global Partners

In related news, insider Global Gp Llc bought 5,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was bought at an average price of $42.40 per share, with a total value of $212,000.00. Following the transaction, the insider now owns 239,181 shares of the company’s stock, valued at approximately $10,141,274.40. This trade represents a 2.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased 34,526 shares of company stock valued at $1,506,490 over the last ninety days. Corporate insiders own 41.50% of the company’s stock.

Global Partners 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.