B. Riley Wealth Advisors Inc. Sells 570 Shares of Global Partners LP (NYSE:GLP)

B. Riley Wealth Advisors Inc. decreased its holdings in Global Partners LP (NYSE:GLP) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,221 shares of the energy company’s stock after selling 570 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Global Partners were worth $1,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GLP. International Assets Investment Management LLC bought a new stake in Global Partners in the 2nd quarter worth about $41,000. Capital Performance Advisors LLP purchased a new stake in shares of Global Partners during the 3rd quarter valued at about $93,000. Spinnaker Trust purchased a new stake in shares of Global Partners during the 2nd quarter valued at about $203,000. Stratos Wealth Advisors LLC purchased a new position in shares of Global Partners during the third quarter valued at approximately $225,000. Finally, Fiducient Advisors LLC bought a new position in Global Partners during the third quarter valued at approximately $474,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Stock Down 4.1 %

Global Partners stock opened at $51.19 on Tuesday. Global Partners LP has a one year low of $37.00 and a one year high of $58.76. The stock has a fifty day moving average of $50.19 and a 200 day moving average of $46.05. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. The stock has a market cap of $1.74 billion, a PE ratio of 15.47 and a beta of 1.43.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 5.70%. The ex-dividend date was Friday, November 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.72. Global Partners’s dividend payout ratio is 88.22%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Global Partners news, insider Global Gp Llc purchased 2,226 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were acquired at an average cost of $44.71 per share, for a total transaction of $99,524.46. Following the completion of the transaction, the insider now owns 268,307 shares of the company’s stock, valued at approximately $11,996,005.97. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 41.50% of the stock is currently owned by insiders.

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.