Global Partners LP (NYSE:GLP) Short Interest Update

Global Partners LP (NYSE:GLP) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 715,000 shares, a decrease of 5.2% from the October 31st total of 754,600 shares. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 62,900 shares, the days-to-cover ratio is presently 11.4 days.

Insider Buying and Selling at Global Partners

In other news, insider Global Gp Llc purchased 2,226 shares of the stock in a transaction dated Friday, September 20th. The shares were acquired at an average cost of $44.71 per share, for a total transaction of $99,524.46. Following the acquisition, the insider now owns 268,307 shares of the company’s stock, valued at approximately $11,996,005.97. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have bought 27,026 shares of company stock valued at $1,168,390. 41.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GLP. Infrastructure Capital Advisors LLC grew its holdings in shares of Global Partners by 57.7% during the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after purchasing an additional 51,630 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Global Partners during the 2nd quarter worth $41,000. Exchange Traded Concepts LLC lifted its position in Global Partners by 2.2% in the third quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after purchasing an additional 725 shares during the period. Spinnaker Trust bought a new stake in Global Partners during the 2nd quarter worth approximately $203,000. Finally, Fiducient Advisors LLC bought a new position in shares of Global Partners in the 3rd quarter valued at about $474,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Stock Performance

Shares of NYSE GLP opened at $55.93 on Tuesday. The business’s 50-day moving average price is $48.53 and its two-hundred day moving average price is $45.37. The company has a market capitalization of $1.90 billion, a P/E ratio of 16.90 and a beta of 1.43. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. Global Partners has a one year low of $36.16 and a one year high of $56.45.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a $0.73 dividend. The ex-dividend date was Friday, November 8th. This is a positive change from Global Partners’s previous quarterly dividend of $0.72. This represents a $2.92 dividend on an annualized basis and a dividend yield of 5.22%. Global Partners’s payout ratio is currently 88.22%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upped their price objective on shares of Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

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.