Global Partners LP (NYSE:GLP) Short Interest Up 19.1% in October

Global Partners LP (NYSE:GLP) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 38,100 shares, an increase of 19.1% from the September 30th total of 32,000 shares. Based on an average trading volume of 68,800 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the company’s stock are sold short.

Several research firms have recently commented on GLP. ValuEngine cut Global Partners from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research cut Global Partners from a “buy” rating to a “hold” rating in a research note on Saturday, November 2nd.

Several institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of Global Partners by 4.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 23,612 shares of the energy company’s stock valued at $470,000 after buying an additional 923 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Global Partners by 4.7% during the second quarter. Wells Fargo & Company MN now owns 29,083 shares of the energy company’s stock worth $579,000 after purchasing an additional 1,297 shares during the last quarter. Van ECK Associates Corp lifted its stake in Global Partners by 2.3% during the second quarter. Van ECK Associates Corp now owns 65,091 shares of the energy company’s stock worth $1,296,000 after purchasing an additional 1,448 shares during the last quarter. Arrow Investment Advisors LLC lifted its stake in Global Partners by 7.1% during the third quarter. Arrow Investment Advisors LLC now owns 22,103 shares of the energy company’s stock worth $433,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Delta Investment Management LLC lifted its stake in Global Partners by 24.2% during the third quarter. Delta Investment Management LLC now owns 12,826 shares of the energy company’s stock worth $251,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors own 38.27% of the company’s stock.

Shares of Global Partners stock traded up $0.22 on Tuesday, hitting $20.11. 88,732 shares of the company’s stock traded hands, compared to its average volume of 77,562. The stock has a market cap of $683.37 million, a P/E ratio of 11.62 and a beta of 0.90. The company has a quick ratio of 0.77, a current ratio of 1.40 and a debt-to-equity ratio of 3.58. The firm’s 50-day moving average is $20.07 and its 200 day moving average is $19.88. Global Partners has a 52-week low of $13.63 and a 52-week high of $21.62.

Global Partners (NYSE:GLP) last released its earnings results on Thursday, November 7th. The energy company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.54. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Global Partners had a return on equity of 24.25% and a net margin of 0.69%. Equities research analysts forecast that Global Partners will post 0.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.52 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.52. This represents a $2.08 annualized dividend and a dividend yield of 10.34%. The ex-dividend date of this dividend is Thursday, November 7th. Global Partners’s dividend payout ratio is 120.23%.

Global Partners Company Profile

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 and New York.

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