XTX Topco Ltd Invests $302,000 in Global Partners LP (NYSE:GLP)

XTX Topco Ltd purchased a new stake in Global Partners LP (NYSE:GLP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,491 shares of the energy company’s stock, valued at approximately $302,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of Global Partners in the 4th quarter valued at $330,000. JPMorgan Chase & Co. boosted its holdings in Global Partners by 9,171.6% in the third quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after acquiring an additional 69,704 shares during the last quarter. ING Groep NV acquired a new stake in Global Partners in the fourth quarter worth about $1,536,000. Raymond James Financial Inc. bought a new stake in Global Partners during the 4th quarter worth about $6,510,000. Finally, Proficio Capital Partners LLC lifted its position in Global Partners by 4,555.0% during the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company’s stock valued at $270,863,000 after purchasing an additional 5,693,750 shares during the period. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Stock Performance

GLP stock opened at $53.09 on Friday. Global Partners LP has a twelve month low of $37.00 and a twelve month high of $60.00. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The company has a market cap of $1.80 billion, a P/E ratio of 16.04 and a beta of 1.16. The business’s fifty day moving average is $53.29 and its 200-day moving average is $51.61.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.58%. This is a boost from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio (DPR) is 122.31%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus downgraded shares of Global Partners from a “buy” rating to a “hold” rating and boosted their price target for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Insider Transactions at Global Partners

In related news, COO Mark Romaine sold 2,195 shares of Global Partners stock in a transaction that occurred on 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 of the company’s stock, valued at $8,444,063.88. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate 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.