Gold prices briefly hit record high over $3,500/oz on fiscal, tariff concerns
Global GP LLC, the general partner of Global Partners LP (NYSE:GLP), has purchased 10,000 common units, valued at approximately $532,100. The transaction took place on March 25, 2025, with the price per share ranging from $52.46 to $53.87. The purchase comes as GLP trades near its 52-week high of $60, with the stock delivering a robust 28% return over the past year. InvestingPro analysis shows the company maintains an impressive 5.54% dividend yield, having consistently paid dividends for 20 consecutive years. This acquisition was made to satisfy obligations under the Global Partners LP Long-Term Incentive Plan, and the shares are now directly owned by Global GP LLC. Following this purchase, the total number of shares owned by Global GP LLC stands at 92,650. With a market capitalization of $1.83 billion and a FAIR financial health score according to InvestingPro, which offers comprehensive analysis including 8 additional key ProTips and a detailed Pro Research Report for deeper insights into GLP’s valuation and growth prospects.
In other recent news, Global Partners LP has extended the maturity date of its credit facility to March 20, 2028, as part of a significant financial restructuring. This move provides the company with a longer timeframe to manage its debt obligations, while also adjusting its Aggregate Working Capital Commitment to $1.0 billion and Aggregate Revolver Commitment to $500.0 million. Additionally, Global Partners has entered into new employment agreements with key executives, including CEO Eric S. Slifka, which are effective through December 31, 2027. These contracts include performance-based incentives tied to EBITDA and Distributable Cash Flow metrics.
In a strategic partnership, Global Partners has collaborated with RoadFlex to integrate its network of service stations into RoadFlex’s fuel card program, offering competitive fuel discounts. S&P Global Ratings has upgraded the outlook for Global Partners to positive, following the successful integration of liquid terminals acquired from Motiva Enterprises and Gulf Oil Corp. This acquisition has expanded Global Partners’ terminal capacity and diversified its cash flow.
Meanwhile, Stifel analysts have downgraded Global Partners’ stock from Buy to Hold, citing lower-than-expected fourth-quarter earnings for 2024 due to reduced fuel margins. Despite the downgrade, the price target was raised to $56.00, reflecting a slight improvement in valuation. Global Partners continues to assess potential Canadian tariffs and remains committed to strategic mergers and acquisitions to enhance its market position.
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