XTX Topco Ltd Buys New Position in Global Partners LP (NYSE:GLP)

XTX Topco Ltd bought a new position in shares of Global Partners LP (NYSE:GLP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,491 shares of the energy company's stock, valued at approximately $302,000.

Several other hedge funds also recently made changes to their positions in GLP. Raymond James Financial Inc. bought a new stake in shares of Global Partners during the fourth quarter worth $6,510,000. Cerity Partners LLC bought a new stake in shares of Global Partners during the fourth quarter worth $528,000. JPMorgan Chase & Co. grew its stake in shares of Global Partners by 53.8% during the fourth quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock worth $5,044,000 after buying an additional 37,893 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Global Partners during the fourth quarter worth $288,000. Finally, BBR Partners LLC bought a new stake in shares of Global Partners during the fourth quarter worth $337,000. 38.12% of the stock is owned by institutional investors.

Insider Activity at Global Partners

In other news, COO Mark Romaine sold 2,195 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $54.06, for a total transaction of $118,661.70. Following the transaction, the chief operating officer now owns 156,198 shares in the company, valued at approximately $8,444,063.88. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered shares of Global Partners from a "buy" rating to a "hold" rating and lifted their price target for the stock from $54.00 to $56.00 in a report on Tuesday, March 4th.

Global Partners Trading Down 0.8 %

GLP stock traded down $0.40 during midday trading on Wednesday, hitting $51.29. The stock had a trading volume of 40,795 shares, compared to its average volume of 78,028. The firm has a market cap of $1.74 billion, a P/E ratio of 15.50 and a beta of 1.16. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. Global Partners LP has a 1-year low of $37.00 and a 1-year high of $60.00. The business has a fifty day moving average price of $52.72 and a two-hundred day moving average price of $51.74.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Friday, May 9th will be issued a $0.745 dividend. This is a positive change from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, May 9th. This represents a $2.98 annualized dividend and a yield of 5.81%. Global Partners's payout ratio is presently 123.14%.

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.