UBS Group AG Sells 61,138 Shares of Global Partners LP $GLP

UBS Group AG decreased its position in shares of Global Partners LP (NYSE:GLP) by 26.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,886 shares of the energy company’s stock after selling 61,138 shares during the period. UBS Group AG owned approximately 0.51% of Global Partners worth $7,277,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners during the 3rd quarter worth $48,000. State of Wyoming boosted its stake in Global Partners by 110.2% in the third quarter. State of Wyoming now owns 2,304 shares of the energy company’s stock valued at $111,000 after buying an additional 1,208 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Global Partners by 89.1% in the second quarter. Geneos Wealth Management Inc. now owns 4,245 shares of the energy company’s stock valued at $224,000 after buying an additional 2,000 shares in the last quarter. Spinnaker Trust boosted its stake in Global Partners by 6.6% in the third quarter. Spinnaker Trust now owns 4,850 shares of the energy company’s stock valued at $233,000 after buying an additional 300 shares in the last quarter. Finally, Earned Wealth Advisors LLC acquired a new stake in Global Partners in the fourth quarter valued at about $219,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 2,020 shares of Global Partners stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $48.19, for a total transaction of $97,343.80. Following the sale, the chief operating officer directly owned 141,609 shares of the company’s stock, valued at approximately $6,824,137.71. This trade represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 24,063 shares of company stock worth $1,146,471 over the last quarter. Company insiders own 41.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen raised Global Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research raised Global Partners from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Weiss Ratings raised Global Partners from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus raised their price objective on Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Global Partners presently has an average rating of “Moderate Buy” and an average price target of $46.00.

Global Partners Stock Performance

NYSE:GLP opened at $48.87 on Tuesday. The stock’s 50-day simple moving average is $46.66 and its 200 day simple moving average is $45.40. The firm has a market capitalization of $1.66 billion, a PE ratio of 13.58 and a beta of 1.04. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 2.58. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $56.51.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Friday, May 8th. The energy company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $1.52. Global Partners had a return on equity of 24.23% and a net margin of 0.77%.The firm had revenue of $5.32 billion for the quarter, compared to analyst estimates of $6.98 billion. On average, analysts anticipate that Global Partners LP will post 4.71 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Monday, May 11th were paid a dividend of $0.765 per share. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.06 dividend on an annualized basis and a dividend yield of 6.3%. Global Partners’s payout ratio is 85.00%.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.