Kayne Anderson Capital Advisors LP Sells 3,089 Shares of Global Partners LP $GLP

Kayne Anderson Capital Advisors LP decreased its position in shares of Global Partners LP (NYSE:GLP) by 8.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,925 shares of the energy company’s stock after selling 3,089 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.09% of Global Partners worth $1,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLP. Jones Financial Companies Lllp increased its stake in Global Partners by 56,296.0% in the first quarter. Jones Financial Companies Lllp now owns 28,198 shares of the energy company’s stock valued at $1,505,000 after acquiring an additional 28,148 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Global Partners by 1.6% in the 2nd quarter. Pallas Capital Advisors LLC now owns 1,627,973 shares of the energy company’s stock valued at $85,843,000 after purchasing an additional 26,069 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in shares of Global Partners by 15.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 36,307 shares of the energy company’s stock worth $1,914,000 after buying an additional 4,846 shares in the last quarter. NBW Capital LLC raised its holdings in shares of Global Partners by 50.5% during the 1st quarter. NBW Capital LLC now owns 78,613 shares of the energy company’s stock worth $4,196,000 after buying an additional 26,388 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Global Partners by 28,291.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 17,319 shares of the energy company’s stock worth $913,000 after buying an additional 17,258 shares during the last quarter. Institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GLP shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Global Partners in a report on Thursday. Stifel Nicolaus lowered their target price on Global Partners from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, November 11th. Zacks Research downgraded Global Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Finally, Wall Street Zen cut Global Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $45.00.

Global Partners Price Performance

Global Partners stock opened at $42.33 on Tuesday. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.18 and a quick ratio of 0.70. Global Partners LP has a one year low of $39.70 and a one year high of $60.00. The stock’s 50 day moving average is $46.62 and its 200 day moving average is $49.96. The firm has a market cap of $1.44 billion, a P/E ratio of 16.28 and a beta of 0.98.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, November 7th. The energy company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.43). Global Partners had a net margin of 0.64% and a return on equity of 17.95%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $7.21 billion. As a group, research analysts expect that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Monday, November 10th. This is an increase from Global Partners’s previous quarterly dividend of $0.75. Global Partners’s dividend payout ratio (DPR) is 144.50%.

Insider Buying and Selling at Global Partners

In other news, COO Mark Romaine sold 9,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $51.44, for a total value of $462,960.00. Following the transaction, the chief operating officer directly owned 130,531 shares of the company’s stock, valued at $6,714,514.64. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.