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

Global Partners (NYSE:GLP) had its price objective increased by equities researchers at Stifel Nicolaus from $51.00 to $54.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 10.97% from the company’s previous close.

Global Partners Price Performance

Shares of NYSE:GLP opened at $48.66 on Tuesday. The company has a quick ratio of 0.62, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The firm has a 50-day simple moving average of $45.94 and a 200 day simple moving average of $44.69. Global Partners has a fifty-two week low of $32.19 and a fifty-two week high of $50.85. The company has a market cap of $1.65 billion, a PE ratio of 14.61 and a beta of 1.38.

Insider Buying and Selling

In other news, insider Global Gp Llc purchased 5,000 shares of Global Partners stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $42.67 per share, with a total value of $213,350.00. Following the completion of the acquisition, the insider now owns 201,681 shares in the company, valued at $8,605,728.27. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 41,926 shares of company stock worth $1,820,352 in the last three months. 41.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. Granite Bay Wealth Management LLC grew its stake in shares of Global Partners by 6,200.0% in the second quarter. Granite Bay Wealth Management LLC now owns 315,000 shares of the energy company’s stock worth $14,541,000 after acquiring an additional 310,000 shares during the last quarter. Fiducient Advisors LLC bought a new position in Global Partners in the 3rd quarter worth about $474,000. SVB Wealth LLC purchased a new stake in Global Partners during the 1st quarter valued at about $374,000. Stratos Wealth Advisors LLC bought a new stake in Global Partners during the 3rd quarter valued at about $225,000. Finally, Gilman Hill Asset Management LLC lifted its stake in shares of Global Partners by 17.8% in the second quarter. Gilman Hill Asset Management LLC now owns 31,461 shares of the energy company’s stock worth $1,436,000 after buying an additional 4,760 shares in the last quarter. 38.12% of the stock is owned by institutional investors and hedge funds.

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.