Creative Planning Has $684,000 Stock Position in Global Partners LP (NYSE:GLP)

Creative Planning lessened its position in shares of Global Partners LP (NYSE:GLP) by 8.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 14,988 shares of the energy company’s stock after selling 1,390 shares during the quarter. Creative Planning’s holdings in Global Partners were worth $684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of Global Partners by 8.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 27,510 shares of the energy company’s stock valued at $1,221,000 after purchasing an additional 2,030 shares during the last quarter. Leo Wealth LLC acquired a new stake in Global Partners during the 4th quarter worth about $423,000. International Assets Investment Management LLC bought a new position in shares of Global Partners in the 2nd quarter worth about $41,000. Sanders Morris Harris LLC acquired a new position in shares of Global Partners in the 1st quarter valued at about $732,000. Finally, Spinnaker Trust bought a new stake in shares of Global Partners during the 2nd quarter valued at about $203,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lifted their target price on Global Partners from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, August 9th.

Global Partners Stock Down 0.3 %

Shares of NYSE GLP opened at $46.98 on Friday. Global Partners LP has a 12-month low of $29.21 and a 12-month high of $50.85. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52. The firm has a market cap of $1.59 billion, a PE ratio of 17.46 and a beta of 1.38. The company’s fifty day simple moving average is $43.39 and its 200 day simple moving average is $44.47.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.40). Global Partners had a return on equity of 19.21% and a net margin of 0.71%. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $5.51 billion. As a group, sell-side analysts forecast that Global Partners LP will post 3.19 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 8th were issued a $0.72 dividend. This is a boost from Global Partners’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Thursday, August 8th. Global Partners’s dividend payout ratio (DPR) is currently 107.06%.

Insider Buying and Selling at Global Partners

In other Global Partners news, insider Global Gp Llc acquired 2,400 shares of the company’s stock in a transaction on Monday, August 19th. The shares were purchased at an average cost of $41.88 per share, with a total value of $100,512.00. Following the completion of the purchase, the insider now owns 196,681 shares of the company’s stock, valued at approximately $8,237,000.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders acquired 43,226 shares of company stock worth $1,872,989. 41.50% of the stock is owned by corporate insiders.

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.