ING Groep NV Acquires Shares of 33,000 Global Partners LP (NYSE:GLP)

ING Groep NV bought a new position in Global Partners LP (NYSE:GLP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,000 shares of the energy company’s stock, valued at approximately $1,536,000. ING Groep NV owned 0.10% of Global Partners at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Albert D Mason Inc. grew its stake in shares of Global Partners by 11.8% during the fourth quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after acquiring an additional 575 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Global Partners in the third quarter valued at about $93,000. Stifel Financial Corp boosted its holdings in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after purchasing an additional 2,166 shares during the last quarter. Fiducient Advisors LLC acquired a new stake in Global Partners during the 3rd quarter valued at approximately $474,000. Finally, Infrastructure Capital Advisors LLC increased its holdings in Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after purchasing an additional 51,630 shares during the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus increased their target price on 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 Price Performance

GLP opened at $58.50 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.64 and a current ratio of 1.14. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The company has a 50-day moving average of $51.86 and a 200-day moving average of $48.72. The company has a market capitalization of $1.99 billion, a P/E ratio of 17.67 and a beta of 1.47.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were paid a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 annualized dividend and a yield of 5.06%. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio is presently 89.43%.

About Global Partners

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.