Stifel Nicolaus Raises Global Partners (NYSE:GLP) Price Target to $54.00

Global Partners (NYSE:GLP) had its price target increased by Stifel Nicolaus from $51.00 to $54.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the energy company’s stock. Stifel Nicolaus’ target price points to a potential upside of 10.97% from the stock’s current price.

Global Partners Stock Performance

Global Partners stock opened at $48.66 on Tuesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.62 and a current ratio of 1.14. Global Partners has a one year low of $32.19 and a one year high of $50.85. The stock’s 50 day moving average price is $45.94 and its 200 day moving average price is $44.69. The firm has a market capitalization of $1.65 billion, a PE ratio of 14.61 and a beta of 1.38.

Insiders Place Their Bets

In other Global Partners news, insider Global Gp Llc bought 5,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $42.67 per share, for a total transaction of $213,350.00. Following the completion of the purchase, the insider now directly owns 201,681 shares of the company’s stock, valued at approximately $8,605,728.27. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have bought 41,926 shares of company stock worth $1,820,352 in the last quarter. 41.50% of the stock is owned by corporate insiders.

Institutional Trading of Global Partners

Hedge funds have recently made changes to their positions in the stock. Granite Bay Wealth Management LLC grew its holdings in Global Partners by 6,200.0% during the 2nd 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 in the last quarter. Exchange Traded Concepts LLC grew its stake in Global Partners by 2.2% in the third 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 in the last quarter. Gilman Hill Asset Management LLC increased its holdings in 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 valued at $1,436,000 after buying an additional 4,760 shares during the last quarter. Leo Wealth LLC raised its stake in Global Partners by 45.0% during the first quarter. Leo Wealth LLC now owns 14,500 shares of the energy company’s stock valued at $647,000 after buying an additional 4,500 shares in the last quarter. Finally, Fiducient Advisors LLC bought a new position in Global Partners during the 3rd quarter worth approximately $474,000. Institutional investors and hedge funds 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.