Cascade Investment Group Inc. Sells 2,850 Shares of Global Partners LP (NYSE:GLP)

Cascade Investment Group Inc. reduced its holdings in shares of Global Partners LP (NYSE:GLP) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,185 shares of the energy company’s stock after selling 2,850 shares during the period. Global Partners accounts for about 1.6% of Cascade Investment Group Inc.’s investment portfolio, making the stock its 11th largest holding. Cascade Investment Group Inc.’s holdings in Global Partners were worth $2,290,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Infrastructure Capital Advisors LLC lifted its holdings in shares of 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 during the last quarter. JPMorgan Chase & Co. increased its position in Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after buying an additional 69,704 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in 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 last quarter. Stifel Financial Corp boosted its holdings in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Finally, Fiducient Advisors LLC purchased a new stake in shares of Global Partners in the third quarter worth $474,000. Institutional investors own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their target price 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 Stock Down 0.1 %

Global Partners stock opened at $52.41 on Monday. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $58.76. The stock has a fifty day simple moving average of $50.65 and a two-hundred day simple moving average of $46.23. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Friday, November 8th were given a $0.73 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. The ex-dividend date was Friday, November 8th. This represents a $2.92 dividend on an annualized basis and a yield of 5.57%. Global Partners’s payout ratio is 88.22%.

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.