Solaris Asset Management LLC Has $183,000 Position in Global Partners LP (NYSE:GLP)

Solaris Asset Management LLC continued to hold its stake in Global Partners LP (NYSE:GLP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,150 shares of the energy company’s stock at the end of the second quarter. Solaris Asset Management LLC’s holdings in Global Partners were worth $183,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GLP. Acadian Asset Management LLC acquired a new stake in Global Partners during the second quarter valued at about $199,000. Winslow Evans & Crocker Inc. increased its stake in Global Partners by 81.6% in the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock valued at $1,052,000 after buying an additional 25,691 shares during the last quarter. Bank of Montreal Can acquired a new stake in Global Partners during the second quarter valued at about $451,000. Goldman Sachs Group Inc. increased its stake in Global Partners by 9.8% in the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock valued at $15,443,000 after buying an additional 70,756 shares during the last quarter. Finally, Morgan Stanley increased its stake in Global Partners by 13.6% in the first quarter. Morgan Stanley now owns 2,859,113 shares of the energy company’s stock valued at $55,754,000 after buying an additional 341,554 shares during the last quarter. 47.27% of the stock is owned by institutional investors and hedge funds.

Shares of Global Partners LP (NYSE GLP) opened at 17.20 on Thursday. The stock’s market cap is $577.13 million. Global Partners LP has a one year low of $14.51 and a one year high of $21.95. The company has a 50-day moving average price of $17.77 and a 200 day moving average price of $18.95.

Global Partners (NYSE:GLP) last announced its quarterly earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. Global Partners had a negative return on equity of 1.83% and a negative net margin of 1.93%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. Equities research analysts expect that Global Partners LP will post $1.11 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Wednesday, August 9th will be issued a $0.463 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 10.77%. The ex-dividend date is Monday, August 7th. Global Partners’s dividend payout ratio is -36.85%.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/2798834/solaris-asset-management-llc-has-183000-position-in-global-partners-lp-nyseglp.html.

Several brokerages have weighed in on GLP. Zacks Investment Research cut Global Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub upgraded Global Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and set a $21.00 price objective on shares of Global Partners in a research note on Friday, June 23rd. Finally, Janney Montgomery Scott began coverage on Global Partners in a research note on Friday, June 23rd. They set a “neutral” rating and a $18.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Global Partners currently has a consensus rating of “Hold” and a consensus price target of $18.40.

About Global Partners

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

Want to see what other hedge funds are holding GLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP).

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

Receive News & Ratings for Global Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.