Bank of New York Mellon Corp Has $397,000 Holdings in Global Partners LP (GLP)
Bank of New York Mellon Corp lowered its position in shares of Global Partners LP (NYSE:GLP) by 0.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,000 shares of the energy company’s stock after selling 1 shares during the quarter. Bank of New York Mellon Corp owned 0.07% of Global Partners worth $397,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in Global Partners during the second quarter valued at approximately $199,000. Cutler Capital Management LLC purchased a new position in Global Partners during the second quarter valued at approximately $254,000. Bank of Montreal Can purchased a new position in Global Partners during the second quarter valued at approximately $451,000. Winslow Evans & Crocker Inc. lifted its holdings in Global Partners by 81.6% during the second quarter. Winslow Evans & Crocker Inc. now owns 57,165 shares of the energy company’s stock valued at $1,052,000 after purchasing an additional 25,691 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Global Partners by 9.8% during the first quarter. Goldman Sachs Group Inc. now owns 791,950 shares of the energy company’s stock valued at $15,443,000 after purchasing an additional 70,756 shares in the last quarter. 39.81% of the stock is currently owned by institutional investors and hedge funds.
GLP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Monday, July 17th. BidaskClub cut shares of Global Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $21.00 price objective on shares of Global Partners in a research report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.40.
Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, August 9th. The energy company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Global Partners had a positive return on equity of 0.21% and a negative net margin of 1.83%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted ($0.22) EPS. The business’s revenue was down 2.6% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.4625 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 10.42%. Global Partners’s dividend payout ratio (DPR) is -39.11%.
Global Partners Profile
Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.
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