ING Groep NV Buys Shares of 27,000 Global Partners LP $GLP

ING Groep NV purchased a new stake in shares of Global Partners LP (NYSE:GLP) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 27,000 shares of the energy company’s stock, valued at approximately $1,296,000.

Other large investors also recently modified their holdings of the company. Alps Advisors Inc. increased its holdings in Global Partners by 5.1% during the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock worth $274,655,000 after acquiring an additional 275,906 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Global Partners by 37.0% in the second quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock worth $17,610,000 after purchasing an additional 90,169 shares during the period. Lee Financial Co purchased a new stake in shares of Global Partners in the third quarter worth $902,000. Jane Street Group LLC bought a new stake in Global Partners during the first quarter valued at $862,000. Finally, Beacon Investment Advisory Services Inc. purchased a new position in Global Partners during the third quarter worth about $350,000. 38.12% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wall Street Zen cut Global Partners from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Zacks Research upgraded shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Stifel Nicolaus cut their price target on shares of Global Partners from $53.00 to $45.00 and set a “hold” rating for the company in a research note on Tuesday, November 11th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Global Partners currently has an average rating of “Hold” and an average target price of $45.00.

Global Partners Stock Performance

Shares of NYSE GLP opened at $48.53 on Friday. The stock’s 50-day moving average is $44.36 and its 200 day moving average is $46.53. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 23.22 and a beta of 1.00. Global Partners LP has a 1-year low of $39.58 and a 1-year high of $60.00. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 2.75.

Global Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date was Monday, February 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is presently 145.45%.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.