Raymond James Financial Inc. Takes $6.51 Million Position in Global Partners LP (NYSE:GLP)

Raymond James Financial Inc. purchased a new stake in shares of Global Partners LP (NYSE:GLP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 139,850 shares of the energy company’s stock, valued at approximately $6,510,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of Global Partners during the fourth quarter valued at approximately $330,000. JPMorgan Chase & Co. increased its holdings in Global Partners by 9,171.6% during the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after buying an additional 69,704 shares during the period. ING Groep NV purchased a new position in Global Partners during the fourth quarter valued at approximately $1,536,000. Proficio Capital Partners LLC increased its holdings in Global Partners by 4,555.0% during the fourth quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after buying an additional 5,693,750 shares during the period. Finally, NBW Capital LLC purchased a new position in Global Partners during the fourth quarter valued at approximately $2,431,000. Institutional investors own 38.12% of the company’s stock.

Global Partners Stock Performance

Shares of GLP stock opened at $53.24 on Monday. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 16.08 and a beta of 1.53. The company’s 50 day moving average is $55.04 and its 200 day moving average is $50.65. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $60.00.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.56%. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 10th. Global Partners’s dividend payout ratio (DPR) is presently 122.31%.

Analyst Ratings Changes

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

About Global Partners

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.