Fiducient Advisors LLC Invests $474,000 in Global Partners LP (NYSE:GLP)

Fiducient Advisors LLC purchased a new stake in shares of Global Partners LP (NYSE:GLP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,177 shares of the energy company’s stock, valued at approximately $474,000.

Several other large investors have also modified their holdings of the business. Albert D Mason Inc. grew its holdings in shares of Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock worth $222,000 after purchasing an additional 300 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Global Partners by 2.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after purchasing an additional 725 shares in the last quarter. International Assets Investment Management LLC bought a new position in Global Partners during the second quarter worth $41,000. Commonwealth Equity Services LLC boosted its position in Global Partners by 8.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company’s stock valued at $1,221,000 after purchasing an additional 2,030 shares during the period. Finally, Spinnaker Trust acquired a new stake in shares of Global Partners in the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lifted their target price on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Global Partners Stock Up 0.7 %

GLP opened at $47.00 on Thursday. Global Partners LP has a 1-year low of $30.00 and a 1-year high of $50.85. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 17.47 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 0.62 and a debt-to-equity ratio of 2.52. The business has a 50 day moving average of $45.15 and a 200-day moving average of $44.60.

Global Partners (NYSE:GLP) last released its earnings results on Wednesday, August 7th. The energy company reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). Global Partners had a return on equity of 19.21% and a net margin of 0.71%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $5.51 billion. As a group, sell-side analysts anticipate that Global Partners LP will post 3.19 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 8th will be paid a $0.73 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 6.21%. This is a boost from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s dividend payout ratio (DPR) is currently 108.55%.

Insider Transactions at Global Partners

In related news, insider Global Gp Llc bought 2,226 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were purchased at an average price of $44.71 per share, with a total value of $99,524.46. Following the completion of the purchase, the insider now owns 268,307 shares in the company, valued at $11,996,005.97. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders purchased 43,226 shares of company stock worth $1,872,989. 41.50% of the stock is owned by insiders.

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.