Global Partners LP (NYSE:GLP) Short Interest Update

Global Partners LP (NYSE:GLP) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 104,753 shares, a decline of 54.6% from the June 15th total of 230,789 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 227,107 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

GLP has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. Zacks Research downgraded shares of Global Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen upgraded Global Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Global Partners currently has an average rating of “Hold” and an average price target of $46.00.

Institutional Trading of Global Partners

A number of institutional investors have recently made changes to their positions in GLP. Alps Advisors Inc. boosted its stake in shares of Global Partners by 4.9% during the fourth quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock valued at $251,093,000 after purchasing an additional 277,875 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Global Partners by 4.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after purchasing an additional 85,347 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Global Partners by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after purchasing an additional 67,337 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Global Partners by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company’s stock worth $18,685,000 after purchasing an additional 55,304 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of Global Partners by 26.6% in the third quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock worth $11,281,000 after purchasing an additional 49,319 shares during the last quarter. Hedge funds and other institutional investors own 38.12% of the company’s stock.

Global Partners Trading Down 0.3%

Global Partners stock traded down $0.14 during mid-day trading on Tuesday, hitting $48.59. The company’s stock had a trading volume of 18,272 shares, compared to its average volume of 71,302. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.12 and a quick ratio of 0.64. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 13.50 and a beta of 1.02. The business has a 50 day moving average price of $47.75 and a 200-day moving average price of $46.54. Global Partners has a 12 month low of $39.58 and a 12 month high of $53.25.

Global Partners (NYSE:GLP) last posted its quarterly earnings results on Friday, May 8th. The energy company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $1.52. The business had revenue of $5.32 billion during the quarter, compared to analyst estimates of $6.98 billion. Global Partners had a net margin of 0.77% and a return on equity of 24.23%. As a group, analysts forecast that Global Partners will post 4.71 EPS for the current year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Monday, May 11th were paid a $0.765 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, May 11th. This represents a $3.06 dividend on an annualized basis and a yield of 6.3%. Global Partners’s payout ratio is presently 85.00%.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.