Global Partners LP (NYSE:GLP) Shares Purchased by Fractal Investments LLC

Fractal Investments LLC raised its stake in Global Partners LP (NYSE:GLP) by 46.5% during the 4th quarter, HoldingsChannel reports. The firm owned 195,234 shares of the energy company’s stock after acquiring an additional 62,000 shares during the quarter. Global Partners accounts for about 1.7% of Fractal Investments LLC’s portfolio, making the stock its 15th largest position. Fractal Investments LLC’s holdings in Global Partners were worth $8,260,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new position in Global Partners in the fourth quarter valued at about $85,000. NewEdge Wealth LLC increased its position in shares of Global Partners by 5.4% during the fourth quarter. NewEdge Wealth LLC now owns 21,572 shares of the energy company’s stock worth $913,000 after acquiring an additional 1,100 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Global Partners during the fourth quarter worth about $1,611,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Global Partners by 34.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 113,208 shares of the energy company’s stock worth $4,790,000 after acquiring an additional 28,735 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Global Partners by 5.3% during the fourth quarter. Raymond James & Associates now owns 15,909 shares of the energy company’s stock worth $673,000 after acquiring an additional 807 shares during the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLP. Stifel Nicolaus boosted their price objective on Global Partners from $40.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, December 27th. StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday.

Global Partners Stock Performance

Shares of NYSE GLP traded down $0.31 during midday trading on Wednesday, hitting $46.64. 70,922 shares of the company’s stock were exchanged, compared to its average volume of 139,519. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.12 and a quick ratio of 0.71. The stock’s 50 day moving average price is $46.28 and its 200-day moving average price is $41.05. The firm has a market cap of $1.58 billion, a P/E ratio of 12.40 and a beta of 1.35. Global Partners LP has a twelve month low of $27.07 and a twelve month high of $49.50.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Wednesday, February 28th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.45. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.39 billion. Equities research analysts anticipate that Global Partners LP will post 3.9 EPS for the current year.

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.