33,000 Shares in Global Partners LP (NYSE:GLP) Acquired by ING Groep NV

ING Groep NV purchased a new stake in shares of Global Partners LP (NYSE:GLP) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 33,000 shares of the energy company’s stock, valued at approximately $1,536,000.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Global Partners by 9,171.6% in the third 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 during the period. Infrastructure Capital Advisors LLC raised its position in Global Partners by 57.7% in the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after acquiring an additional 51,630 shares in the last quarter. Stifel Financial Corp lifted its holdings in Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after acquiring an additional 2,166 shares during the last quarter. Albert D Mason Inc. boosted its position in shares of Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares in the last quarter. Finally, Fiducient Advisors LLC acquired a new position in shares of Global Partners in the 3rd quarter worth approximately $474,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Global Partners Stock Performance

GLP opened at $58.50 on Monday. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The firm has a market cap of $1.99 billion, a PE ratio of 17.67 and a beta of 1.47. The business has a fifty day simple moving average of $51.86 and a 200-day simple moving average of $48.72. Global Partners LP has a fifty-two week low of $37.00 and a fifty-two week high of $60.00.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were given a $0.74 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.06%. Global Partners’s dividend payout ratio (DPR) is 89.43%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus increased their target price on shares of Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

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.