ING Groep NV Decreases Stock Holdings in Global Partners LP (NYSE:GLP)

ING Groep NV trimmed its position in shares of Global Partners LP (NYSE:GLP) by 72.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,000 shares of the energy company’s stock after selling 24,000 shares during the period. ING Groep NV’s holdings in Global Partners were worth $480,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Alps Advisors Inc. raised its position in Global Partners by 12.8% during the 1st quarter. Alps Advisors Inc. now owns 5,584,745 shares of the energy company’s stock valued at $298,114,000 after purchasing an additional 635,126 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Global Partners by 4.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company’s stock valued at $74,904,000 after acquiring an additional 64,901 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in Global Partners by 8.1% in the first quarter. Pallas Capital Advisors LLC now owns 1,601,904 shares of the energy company’s stock worth $85,510,000 after acquiring an additional 119,924 shares during the period. Raymond James Financial Inc. bought a new stake in Global Partners in the fourth quarter valued at $6,510,000. Finally, JPMorgan Chase & Co. increased its position in Global Partners by 53.8% during the 4th quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company’s stock valued at $5,044,000 after purchasing an additional 37,893 shares during the period. 38.12% of the stock is currently owned by hedge funds and other institutional investors.

Global Partners Stock Down 0.3%

Shares of NYSE GLP opened at $50.79 on Thursday. The firm has a fifty day simple moving average of $52.76 and a two-hundred day simple moving average of $52.86. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The company has a current ratio of 1.17, a quick ratio of 0.68 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $1.73 billion, a PE ratio of 16.12 and a beta of 1.02.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.39. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a net margin of 0.76% and a return on equity of 21.10%. Equities analysts expect that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 8th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.9%. This is an increase from Global Partners’s previous quarterly dividend of $0.75. Global Partners’s payout ratio is presently 94.60%.

Insider Activity at Global Partners

In other Global Partners news, COO Mark Romaine sold 1,881 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $51.68, for a total value of $97,210.08. Following the sale, the chief operating officer directly owned 148,531 shares of the company’s stock, valued at approximately $7,676,082.08. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 18,000 shares of company stock valued at $944,221. Insiders own 41.50% of the company’s stock.

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.