Global Partners LP (NYSE:GLP) Short Interest Down 5.2% in November

Global Partners LP (NYSE:GLP) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 715,000 shares, a drop of 5.2% from the October 31st total of 754,600 shares. Based on an average trading volume of 62,900 shares, the short-interest ratio is currently 11.4 days. Currently, 2.4% of the company’s shares are sold short.

Insider Transactions at Global Partners

In other news, insider Global Gp Llc purchased 4,800 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $43.17 per share, with a total value of $207,216.00. Following the transaction, the insider now directly owns 243,981 shares of the company’s stock, valued at approximately $10,532,659.77. This represents a 2.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders acquired 27,026 shares of company stock valued at $1,168,390. Corporate insiders own 41.50% of the company’s stock.

Institutional Investors Weigh In On Global Partners

A number of large investors have recently added to or reduced their stakes in GLP. Stifel Financial Corp boosted its stake in Global Partners by 7.3% in the third quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock valued at $1,478,000 after acquiring an additional 2,166 shares during the last quarter. Infrastructure Capital Advisors LLC lifted its stake in shares of Global Partners by 57.7% in the 3rd quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock valued at $6,572,000 after acquiring an additional 51,630 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Global Partners in the 3rd quarter valued at $93,000. Fiducient Advisors LLC acquired a new position in shares of Global Partners during the third quarter worth approximately $474,000. Finally, Stratos Wealth Advisors LLC bought a new position in shares of Global Partners in the third quarter valued at approximately $225,000. Institutional investors own 38.12% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target 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.

Global Partners Stock Performance

GLP opened at $55.93 on Tuesday. The stock has a market cap 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 1-year low of $36.16 and a 1-year high of $56.45. The stock’s 50 day simple moving average is $48.53 and its 200 day simple moving average is $45.37.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were issued a $0.73 dividend. This is an increase 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%. The ex-dividend date was Friday, November 8th. Global Partners’s payout ratio is presently 88.22%.

Global Partners Company 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.