Kayne Anderson Capital Advisors LP Sells 3,286 Shares of Global Partners LP (NYSE:GLP)

Kayne Anderson Capital Advisors LP decreased its position in shares of Global Partners LP (NYSE:GLP) by 8.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 35,014 shares of the energy company’s stock after selling 3,286 shares during the period. Kayne Anderson Capital Advisors LP’s holdings in Global Partners were worth $1,630,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLP. International Assets Investment Management LLC purchased a new stake in Global Partners in the second quarter worth $41,000. Spinnaker Trust purchased a new position in Global Partners during the second quarter valued at $203,000. Exchange Traded Concepts LLC grew its stake in shares of Global Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after acquiring an additional 725 shares during the last quarter. Fiducient Advisors LLC bought a new position in Global Partners in the 3rd quarter worth about $474,000. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of Global Partners during the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised their target price on shares of Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Insiders Place Their Bets

In other news, insider Global Gp Llc purchased 2,226 shares of the stock in a transaction on Friday, September 20th. The shares were acquired at an average price of $44.71 per share, with a total value of $99,524.46. Following the completion of the acquisition, the insider now directly owns 268,307 shares of the company’s stock, valued at $11,996,005.97. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have acquired 39,526 shares of company stock worth $1,719,840. Company insiders own 41.50% of the company’s stock.

Global Partners Trading Down 0.2 %

Global Partners stock opened at $49.52 on Monday. Global Partners LP has a 52-week low of $32.51 and a 52-week high of $50.85. The company has a market cap of $1.68 billion, a P/E ratio of 14.96 and a beta of 1.38. The company has a quick ratio of 0.62, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The business has a 50-day simple moving average of $46.40 and a two-hundred day simple moving average of $44.75.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were issued a dividend of $0.73 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s dividend payout ratio is currently 88.22%.

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.