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

ING Groep NV lowered its position in shares of Global Partners LP (NYSE:GLP - Free Report) by 72.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake 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 acquiring an additional 37,893 shares in the last quarter. Cerity Partners LLC bought a new position in Global Partners during the 4th quarter worth approximately $528,000. XTX Topco Ltd bought a new stake in shares of Global Partners in the fourth quarter valued at about $302,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Global Partners by 0.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 31,230 shares of the energy company's stock worth $1,667,000 after purchasing an additional 259 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in Global Partners during the 4th quarter worth approximately $1,029,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Mark Romaine sold 7,119 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $51.28, for a total transaction of $365,062.32. Following the completion of the sale, the chief operating officer directly owned 150,412 shares of the company's stock, valued at $7,713,127.36. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 18,000 shares of company stock valued at $944,221 over the last three months. Corporate insiders own 41.50% of the company's stock.

Global Partners Price Performance

Shares of GLP stock traded up $0.02 on Friday, reaching $50.27. The company had a trading volume of 80,224 shares, compared to its average volume of 30,528. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 2.69. Global Partners LP has a one year low of $37.00 and a one year high of $60.00. The stock has a market capitalization of $1.71 billion, a PE ratio of 19.33 and a beta of 1.02. The business's 50-day moving average is $52.67 and its 200 day moving average is $52.82.

Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.39. The firm had revenue of $4.59 billion during the quarter, compared to the consensus estimate of $5.64 billion. Global Partners had a return on equity of 17.77% and a net margin of 0.64%. Equities research analysts forecast that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Friday, August 8th will be issued a $0.75 dividend. This is a boost from Global Partners's previous quarterly dividend of $0.75. This represents a $3.00 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Friday, August 8th. Global Partners's dividend payout ratio is currently 94.60%.

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.