Albert D Mason Inc. Buys 575 Shares of Global Partners LP (NYSE:GLP)

Albert D Mason Inc. raised its stake in Global Partners LP (NYSE:GLP) by 11.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,440 shares of the energy company’s stock after buying an additional 575 shares during the period. Albert D Mason Inc.’s holdings in Global Partners were worth $253,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP purchased a new stake in shares of Global Partners in the third quarter valued at approximately $93,000. Stratos Wealth Advisors LLC bought a new stake in Global Partners during the 3rd quarter valued at $225,000. Fiducient Advisors LLC purchased a new stake in shares of Global Partners in the 3rd quarter worth $474,000. Stifel Financial Corp grew its position in shares of Global Partners by 7.3% during the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after buying an additional 2,166 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Global Partners by 2.2% during the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock valued at $1,548,000 after buying an additional 725 shares during the period. 38.12% of the stock is currently owned by institutional investors.

Global Partners Stock Performance

Shares of GLP stock opened at $52.41 on Friday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.83 and a beta of 1.47. Global Partners LP has a 52-week low of $37.00 and a 52-week high of $58.76. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $50.65 and its 200 day moving average is $46.22.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were issued a $0.73 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is an increase from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 5.57%. Global Partners’s dividend payout ratio (DPR) is currently 88.22%.

Analysts Set New Price Targets

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

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.