GSA Capital Partners LLP Invests $518,000 in Global Partners LP $GLP

GSA Capital Partners LLP purchased a new position in Global Partners LP (NYSE:GLP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,790 shares of the energy company’s stock, valued at approximately $518,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in Global Partners in the third quarter worth $48,000. State of Wyoming increased its holdings in shares of Global Partners by 110.2% during the third quarter. State of Wyoming now owns 2,304 shares of the energy company’s stock valued at $111,000 after acquiring an additional 1,208 shares in the last quarter. First Horizon Corp purchased a new position in shares of Global Partners in the 3rd quarter worth about $120,000. Traub Capital Management LLC bought a new position in Global Partners in the 2nd quarter worth about $192,000. Finally, Geneos Wealth Management Inc. boosted its stake in Global Partners by 89.1% in the 2nd quarter. Geneos Wealth Management Inc. now owns 4,245 shares of the energy company’s stock worth $224,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Global Partners Stock Down 0.8%

GLP opened at $48.07 on Tuesday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 23.00 and a beta of 1.00. The firm has a 50 day moving average price of $44.87 and a 200-day moving average price of $46.32. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $59.20. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 2.75.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s payout ratio is currently 145.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research note on Monday, December 29th. Stifel Nicolaus reduced their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, November 11th. Zacks Research raised Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Partners currently has a consensus rating of “Hold” and a consensus price target of $45.00.

Global Partners Profile

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.