Mark Romaine Sells 2,500 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,500 shares of Global Partners stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $48.00, for a total value of $120,000.00. Following the completion of the transaction, the chief operating officer directly owned 166,609 shares in the company, valued at approximately $7,997,232. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Mark Romaine also recently made the following trade(s):

• On Tuesday, March 10th, Mark Romaine sold 252 shares of Global Partners stock. The stock was sold at an average price of $48.50, for a total value of $12,222.00.

Global Partners Stock Down 0.8%

GLP opened at $47.26 on Friday. The business has a 50 day moving average of $46.32 and a 200-day moving average of $46.17. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 22.40 and a beta of 1.00. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 2.74. Global Partners LP has a 1-year low of $39.58 and a 1-year high of $56.59.

Global Partners (NYSE:GLP) last announced its earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $6.94 billion. As a group, sell-side analysts anticipate that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were given a dividend of $0.76 per share. This is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, February 9th. Global Partners’s dividend payout ratio (DPR) is currently 144.08%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLP. Zacks Research upgraded Global Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Wall Street Zen raised Global Partners from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Stifel Nicolaus boosted their price target on shares of Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a report on Monday, March 2nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Global Partners has an average rating of “Hold” and a consensus target price of $46.00.

Institutional Trading of Global Partners

Several institutional investors have recently bought and sold shares of the stock. McMillan Office Inc. bought a new stake in Global Partners in the fourth quarter valued at $29,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Global Partners in the 4th quarter valued at $29,000. International Assets Investment Management LLC bought a new stake in shares of Global Partners in the 4th quarter worth about $41,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners during the 3rd quarter worth about $48,000. Finally, Smartleaf Asset Management LLC bought a new position in Global Partners during the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.