Stifel Nicolaus Issues Positive Forecast for Global Partners (NYSE:GLP) Stock Price

Global Partners (NYSE:GLP) had its target price lifted by stock analysts at Stifel Nicolaus from $51.00 to $54.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price target points to a potential upside of 12.01% from the stock’s current price.

Global Partners Stock Down 2.2 %

Global Partners stock traded down $1.06 during midday trading on Tuesday, hitting $48.21. 22,463 shares of the stock were exchanged, compared to its average volume of 98,732. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.56 and a beta of 1.38. The company has a quick ratio of 0.62, a current ratio of 1.10 and a debt-to-equity ratio of 2.52. The business’s 50-day moving average price is $45.81 and its 200-day moving average price is $44.69. Global Partners has a 52-week low of $31.33 and a 52-week high of $50.85.

Insider Buying and Selling at Global Partners

In related news, insider Global Gp Llc purchased 2,400 shares of Global Partners stock in a transaction dated Monday, August 19th. The shares were acquired at an average price of $41.88 per share, for a total transaction of $100,512.00. Following the acquisition, the insider now directly owns 196,681 shares in the company, valued at approximately $8,237,000.28. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders bought 43,226 shares of company stock valued at $1,872,989. 41.50% of the stock is currently owned by insiders.

Institutional Trading of Global Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Albert D Mason Inc. lifted its holdings in shares of Global Partners by 6.6% during the second quarter. Albert D Mason Inc. now owns 4,865 shares of the energy company’s stock valued at $222,000 after purchasing an additional 300 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Global Partners by 2.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,256 shares of the energy company’s stock worth $1,548,000 after purchasing an additional 725 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Global Partners during the second quarter worth about $41,000. Capital Performance Advisors LLP bought a new position in shares of Global Partners during the third quarter worth approximately $93,000. Finally, Spinnaker Trust acquired a new stake in shares of Global Partners in the 2nd quarter valued at $203,000. Hedge funds and other institutional investors own 38.12% of the company’s stock.

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. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.