Global GP LLC, General Partner Global Partners Limited Partner (NYSE: ) recently acquired additional common units representing limited partner interests in the Company. These transactions took place on May 29 and 30, 2024, resulting in the purchase of a total of 20,000 common units with a total value of $928,300.
Purchase prices for these units range from $46.14 to $46.69. Specifically, on May 29, the average purchase price was US$46.14 per unit, and on May 30, the price increased slightly to an average of US$46.69 per unit. The purchase prices for these transactions ranged from $45.79 to $47.55, demonstrating the general partners’ confidence in the company’s value and future prospects.
As noted in a footnote in the SEC filing, this strategic acquisition by Global GP LLC is part of its ongoing investment in Global Partners LP. The general partner said the purchases were made to satisfy obligations related to Global Partners LP’s Long-Term Incentive Plan (LTIP), which awards awards to the company’s directors and senior management. Global GP LLC denies any pecuniary interest in these securities and clarifies that this report shall not be deemed an admission of beneficial ownership for purposes of Article 16.
Global Partners LP investors and stakeholders can request detailed information on the exact number of units purchased at each price point within the range provided, as Global GP LLC is committed to providing complete transparency regarding these transactions.
Global Partners LP, focused on wholesale petroleum distribution, continues to demonstrate a solid partnership structure and investment opportunities through recent acquisitions by its general partner. The company has its business address in Waltham, Massachusetts, and trades under the symbol NYSE:GLP.
Investment Professional Insights
Amid a recent insider purchase by Global GP LLC, Global Partners LP (NYSE: GLP ) showed a number of financial metrics that could indicate its investment potential. The company currently has a market capitalization of $1.6 billion and a price-to-earnings ratio of 17.56, according to InvestingPro. This valuation is slightly adjusted to take into account the trailing 12 months’ performance to the first quarter of 2024, resulting in a P/E ratio of 18.11. The company’s quarterly revenue grew by 2.85% in Q1 2024, although revenue growth fell by -9.78% during the same period, which could indicate a possible improvement or seasonal adjustment in its financial position.
Investors should note that Global Partners LP has been able to maintain a stable dividend, raising it three years in a row and maintaining the payout for 19 consecutive years, which is a testament to the company’s commitment to shareholder returns. Over the past 12 months to Q1 2024, the dividend yield reached an impressive 6.19%, with dividend growth of 11.81%.
One of the tips from InvestingPro Tips highlights that the company has been profitable over the last 12 months, with strong returns over the last year, with a one-year total price return of 67.67%. This performance complements significant price gains over the past six months, with returns of 29.85%. Additionally, the company is currently trading close to its 52-week high and at 94.59% of its peak price, which could indicate strong market sentiment or potential resistance levels for the stock price.
For investors looking for further insights and tips, there are additional InvestingPro tips available that delve into aspects such as a company’s debt load and gross margin. To explore these insights and consider how they impact investment decisions, visit InvestingPro for a comprehensive analysis. Remember to use coupon code PRONEWS24 Get an additional 10% off with annual or two-year Pro and Pro+ subscriptions, unlocking more expert tips and data to guide your investment strategy.
This article was generated with the support of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.
