Global Partners LP (NYSE:GLP) Short Interest Update

Global Partners LP (NYSE:GLP) saw a large decline in short interest during the month of 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. Based on an average daily volume of 227,107 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.5% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Global Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings raised shares of Global Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.00.

Hedge Funds Weigh In On Global Partners

A number of institutional investors have recently bought and sold shares of GLP. GSA Capital Partners LLP lifted its holdings in Global Partners by 185.9% in the fourth quarter. GSA Capital Partners LLP now owns 30,850 shares of the energy company’s stock valued at $1,291,000 after acquiring an additional 20,060 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Global Partners by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 389,277 shares of the energy company’s stock worth $18,685,000 after acquiring an additional 55,304 shares during the last quarter. Alps Advisors Inc. increased its stake in Global Partners by 4.9% during the fourth quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after acquiring an additional 277,875 shares during the last quarter. Wealth Effects LLC raised its position in Global Partners by 3.3% in the first quarter. Wealth Effects LLC now owns 9,300 shares of the energy company’s stock valued at $392,000 after purchasing an additional 300 shares during the period. Finally, CENTRAL TRUST Co purchased a new stake in Global Partners in the first quarter valued at $105,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Global Partners Trading Up 2.0%

Global Partners stock traded up $0.98 during trading on Thursday, reaching $48.84. 50,860 shares of the company were exchanged, compared to its average volume of 71,267. Global Partners has a 52-week low of $39.58 and a 52-week high of $53.25. The company has a market capitalization of $1.66 billion, a P/E ratio of 13.60 and a beta of 1.02. 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’s 50 day simple moving average is $47.75 and its two-hundred day simple moving average is $46.61.

Global Partners (NYSE:GLP) last issued its 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. Global Partners had a return on equity of 24.23% and a net margin of 0.77%.The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $6.98 billion. On average, equities research analysts expect that Global Partners will post 4.71 earnings per share for the current fiscal year.

Global Partners Increases Dividend

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

About Global Partners

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.