Global Partners LP (GLP) Shares Bought by Albert D Mason Inc.

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Albert D Mason Inc. raised its holdings in Global Partners LP (NYSE:GLP) by 57.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,105 shares of the energy company’s stock after purchasing an additional 10,635 shares during the quarter. Albert D Mason Inc.’s holdings in Global Partners were worth $530,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. OppenheimerFunds Inc. boosted its holdings in shares of Global Partners by 9.1% in the 2nd quarter. OppenheimerFunds Inc. now owns 4,372,944 shares of the energy company’s stock valued at $74,558,000 after purchasing an additional 365,331 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Global Partners by 3.3% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,379,259 shares of the energy company’s stock valued at $40,557,000 after purchasing an additional 76,000 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Global Partners by 10.9% in the 2nd quarter. Van ECK Associates Corp now owns 188,755 shares of the energy company’s stock valued at $3,218,000 after purchasing an additional 18,515 shares in the last quarter. UBS Group AG boosted its holdings in shares of Global Partners by 44.5% in the 1st quarter. UBS Group AG now owns 164,118 shares of the energy company’s stock valued at $2,519,000 after purchasing an additional 50,527 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Global Partners by 3.3% in the 1st quarter. California Public Employees Retirement System now owns 149,199 shares of the energy company’s stock valued at $2,290,000 after purchasing an additional 4,699 shares in the last quarter. 41.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE GLP traded up $0.06 during mid-day trading on Tuesday, hitting $19.76. 2,322 shares of the stock traded hands, compared to its average volume of 57,644. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 2.67. Global Partners LP has a twelve month low of $15.16 and a twelve month high of $21.05. The company has a market cap of $627.90 million, a price-to-earnings ratio of 14.29 and a beta of 1.05.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Thursday, August 9th. The energy company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.07. Global Partners had a return on equity of 8.83% and a net margin of 0.94%. The company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, research analysts anticipate that Global Partners LP will post 0.62 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Friday, November 9th will be issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 9.62%. The ex-dividend date of this dividend is Thursday, November 8th. Global Partners’s dividend payout ratio (DPR) is 136.69%.

A number of brokerages have weighed in on GLP. Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price (up previously from $17.00) on shares of Global Partners in a report on Friday, August 10th. Zacks Investment Research raised Global Partners from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Monday, August 13th. Wells Fargo & Co raised their price objective on Global Partners from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Thursday, September 13th. ValuEngine raised Global Partners from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Finally, Mitsubishi UFJ Financial Group raised their price objective on Global Partners and gave the company an “underweight” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.75.

About Global Partners

Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.

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Institutional Ownership by Quarter for Global Partners (NYSE:GLP)

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