Global Partners LP (NYSE:GLP – Get Rating) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 401,500 shares, a growth of 75.3% from the November 30th total of 229,100 shares. Based on an average trading volume of 202,100 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.4% of the shares of the company are sold short.
Global Partners Stock Down 2.2 %
Shares of NYSE:GLP opened at $34.48 on Friday. The company’s fifty day moving average is $31.93 and its 200-day moving average is $28.27. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.69 and a current ratio of 1.21. Global Partners has a 52 week low of $20.23 and a 52 week high of $36.30. The company has a market capitalization of $1.17 billion, a PE ratio of 3.86 and a beta of 1.37.
Global Partners (NYSE:GLP – Get Rating) last released its quarterly earnings results on Friday, November 4th. The energy company reported $3.12 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $1.79. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.11 billion. Global Partners had a net margin of 1.75% and a return on equity of 51.58%. Equities research analysts predict that Global Partners will post 7.62 earnings per share for the current fiscal year.
Global Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 8th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 7.25%. This is a boost from Global Partners’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Monday, November 7th. Global Partners’s dividend payout ratio (DPR) is currently 28.00%.
Insiders Place Their Bets
In other news, insider Global Gp Llc acquired 2,000 shares of the stock in a transaction dated Wednesday, November 23rd. The shares were acquired at an average cost of $31.50 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the insider now owns 55,944 shares in the company, valued at approximately $1,762,236. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.50% of the company’s stock.
Hedge Funds Weigh In On Global Partners
Several institutional investors have recently bought and sold shares of GLP. Pallas Capital Advisors LLC increased its stake in shares of Global Partners by 2.7% in the third quarter. Pallas Capital Advisors LLC now owns 1,382,449 shares of the energy company’s stock valued at $46,312,000 after buying an additional 36,458 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Global Partners by 42.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 193,521 shares of the energy company’s stock valued at $4,548,000 after acquiring an additional 57,422 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Global Partners by 20.6% in the first quarter. Bank of America Corp DE now owns 90,092 shares of the energy company’s stock worth $2,457,000 after acquiring an additional 15,360 shares during the last quarter. ING Groep NV lifted its position in shares of Global Partners by 104.3% during the third quarter. ING Groep NV now owns 85,800 shares of the energy company’s stock worth $2,124,000 after purchasing an additional 43,800 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Global Partners by 334.0% during the second quarter. BNP Paribas Arbitrage SA now owns 76,081 shares of the energy company’s stock valued at $1,788,000 after purchasing an additional 58,550 shares during the last quarter. Institutional investors own 28.40% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on GLP. Stifel Nicolaus raised shares of Global Partners from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. StockNews.com began coverage on Global Partners in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company.
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 in the New England states, Mid-Atlantic region, and New York.
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