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

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

Global Partners Stock Performance

Global Partners stock opened at $56.85 on Wednesday. Global Partners has a 1-year low of $36.16 and a 1-year high of $56.85. The company’s 50-day moving average is $48.75 and its 200 day moving average is $45.46. The firm has a market capitalization of $1.93 billion, a P/E ratio of 17.18 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 8th were paid a dividend of $0.73 per share. 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 5.14%. The ex-dividend date of this dividend was Friday, November 8th. Global Partners’s dividend payout ratio (DPR) is currently 88.22%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, insider Global Gp Llc bought 2,226 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average price of $44.71 per share, with a total value of $99,524.46. Following the transaction, the insider now owns 268,307 shares in the company, valued at $11,996,005.97. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased 27,026 shares of company stock valued at $1,168,390 over the last ninety days. 41.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Partners

A number of large investors have recently bought and sold shares of the business. Stifel Financial Corp grew its stake in Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. Infrastructure Capital Advisors LLC lifted its stake in Global Partners by 57.7% in the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after acquiring an additional 51,630 shares during the period. Capital Performance Advisors LLP purchased a new position in Global Partners during the 3rd quarter valued at about $93,000. Fiducient Advisors LLC bought a new stake in shares of Global Partners in the 3rd quarter valued at about $474,000. Finally, Stratos Wealth Advisors LLC bought a new stake in shares of Global Partners in the 3rd quarter valued at about $225,000. Hedge funds and other institutional investors own 38.12% 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.