Short Interest in Global Partners LP (NYSE:GLP) Rises By 52.4%

Global Partners LP (NYSE:GLP - Get Free Report) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,020,000 shares, a growth of 52.4% from the January 15th total of 669,400 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average daily volume of 98,500 shares, the days-to-cover ratio is currently 10.4 days.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price target on shares of Global Partners from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th.

Global Partners Price Performance

GLP traded down $1.07 during midday trading on Wednesday, reaching $58.36. 58,362 shares of the company's stock were exchanged, compared to its average volume of 109,496. Global Partners has a one year low of $37.00 and a one year high of $59.42. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 17.63 and a beta of 1.47. The business has a 50-day simple moving average of $51.67 and a two-hundred day simple moving average of $48.38. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a dividend of $0.74 per share. This is an increase from Global Partners's previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a yield of 5.07%. The ex-dividend date was Monday, February 10th. Global Partners's dividend payout ratio (DPR) is currently 89.43%.

Institutional Trading of Global Partners

Hedge funds have recently modified their holdings of the company. US Bancorp DE grew its position in Global Partners by 54.1% during the 4th quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after acquiring an additional 500 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Global Partners during the third quarter worth $93,000. Stratos Wealth Advisors LLC bought a new position in shares of Global Partners in the third quarter valued at about $225,000. Albert D Mason Inc. lifted its position in Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company's stock worth $253,000 after buying an additional 575 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Global Partners during the 4th quarter worth about $288,000. Institutional investors and hedge funds 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.