US Bancorp DE Increases Position in Global Partners LP (NYSE:GLP)

US Bancorp DE lifted its holdings in Global Partners LP (NYSE:GLP) by 54.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,425 shares of the energy company’s stock after acquiring an additional 500 shares during the quarter. US Bancorp DE’s holdings in Global Partners were worth $66,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Albert D Mason Inc. raised its holdings in shares of Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock worth $253,000 after purchasing an additional 575 shares during the period. SVB Wealth LLC bought a new stake in shares of Global Partners in the 4th quarter worth approximately $330,000. Stifel Financial Corp raised its holdings in shares of Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after purchasing an additional 2,166 shares during the period. ING Groep NV bought a new stake in shares of Global Partners in the 4th quarter worth approximately $1,536,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Global Partners by 9,171.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after purchasing an additional 69,704 shares during the period. Institutional investors own 38.12% of the company’s stock.

Global Partners Trading Up 0.1 %

Shares of GLP stock opened at $54.79 on Tuesday. The company’s fifty day simple moving average is $54.41 and its two-hundred day simple moving average is $50.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. Global Partners LP has a 1 year low of $37.00 and a 1 year high of $60.00. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 16.55 and a beta of 1.53.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were issued a dividend of $0.74 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.40%. Global Partners’s payout ratio is presently 122.31%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut shares of Global Partners from a “buy” rating to a “hold” rating and lifted their price target for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

Global Partners Company 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.