BBR Partners LLC Makes New Investment in Global Partners LP (NYSE:GLP)

BBR Partners LLC acquired a new position in Global Partners LP (NYSE:GLP) in the 4th quarter, HoldingsChannel reports. The firm acquired 7,250 shares of the energy company’s stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. US Bancorp DE lifted its holdings in Global Partners by 54.1% in the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company’s stock worth $66,000 after buying an additional 500 shares during the period. Albert D Mason Inc. lifted its holdings in Global Partners by 11.8% in the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock worth $253,000 after buying an additional 575 shares during the period. Capital Performance Advisors LLP purchased a new stake in Global Partners in the 3rd quarter worth approximately $93,000. Stifel Financial Corp lifted its holdings in Global Partners by 7.3% in 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 during the period. Finally, SVB Wealth LLC purchased a new stake in Global Partners in the 4th quarter worth approximately $330,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut Global Partners from a “buy” rating to a “hold” rating and increased their price objective for the stock from $54.00 to $56.00 in a report on Tuesday.

Global Partners Trading Down 3.0 %

GLP opened at $52.89 on Friday. The stock has a market cap of $1.80 billion, a PE ratio of 15.98 and a beta of 1.47. 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 business has a 50 day moving average of $53.35 and a 200-day moving average of $49.67. Global Partners LP has a 52 week low of $37.00 and a 52 week high of $60.00.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Monday, February 10th. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio (DPR) is presently 122.31%.

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.