NBW Capital LLC Acquires New Holdings in Global Partners LP (NYSE:GLP)

NBW Capital LLC acquired a new stake in shares of Global Partners LP (NYSE:GLP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 52,225 shares of the energy company’s stock, valued at approximately $2,431,000.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position 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 purchasing an additional 69,704 shares in the last quarter. ING Groep NV bought a new stake in Global Partners during the fourth quarter valued at about $1,536,000. Proficio Capital Partners LLC boosted its position 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 purchasing an additional 5,693,750 shares in the last quarter. Infrastructure Capital Advisors LLC boosted its position in Global Partners by 57.7% during the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock valued at $6,572,000 after purchasing an additional 51,630 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Global Partners by 7.3% during the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 2,166 shares in the last quarter. Institutional investors own 38.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus boosted their price target on 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 Price Performance

Shares of GLP stock opened at $57.35 on Tuesday. Global Partners LP has a fifty-two week low of $37.00 and a fifty-two week high of $60.00. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 17.33 and a beta of 1.47. 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’s 50-day simple moving average is $53.02 and its 200-day simple moving average is $49.51.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a dividend of $0.74 per share. 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.16%. Global Partners’s payout ratio is presently 122.31%.

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.