Mark Romaine Sells 2,020 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,020 shares of the company’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $48.19, for a total value of $97,343.80. Following the completion of the transaction, the chief operating officer owned 141,609 shares of the company’s stock, valued at $6,824,137.71. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, March 23rd, Mark Romaine sold 435 shares of Global Partners stock. The stock was sold at an average price of $47.31, for a total transaction of $20,579.85.
• On Thursday, March 19th, Mark Romaine sold 3,245 shares of Global Partners stock. The stock was sold at an average price of $48.10, for a total transaction of $156,084.50.
• On Wednesday, March 18th, Mark Romaine sold 4,735 shares of Global Partners stock. The shares were sold at an average price of $47.76, for a total transaction of $226,143.60.
• On Tuesday, March 17th, Mark Romaine sold 7,500 shares of Global Partners stock. The stock was sold at an average price of $47.39, for a total transaction of $355,425.00.
• On Monday, March 16th, Mark Romaine sold 3,376 shares of Global Partners stock. The stock was sold at an average price of $47.00, for a total transaction of $158,672.00.
• 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.
• On Monday, March 9th, Mark Romaine sold 2,500 shares of Global Partners stock. The stock was sold at an average price of $48.00, for a total value of $120,000.00.

Global Partners Price Performance

Shares of NYSE:GLP traded down $0.15 during mid-day trading on Monday, reaching $46.49. The stock had a trading volume of 45,232 shares, compared to its average volume of 46,728. The business’s 50 day moving average price is $46.99 and its 200 day moving average price is $45.86. Global Partners LP has a 1 year low of $39.58 and a 1 year high of $56.59. The company has a market cap of $1.58 billion, a P/E ratio of 22.03 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 (NYSE:GLP) last released its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.06). Global Partners had a net margin of 0.53% and a return on equity of 15.99%. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Research analysts expect that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently announced 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. The ex-dividend date was Monday, February 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.5%. This is an increase from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio is currently 144.08%.

Institutional Trading of Global Partners

Institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Global Partners by 4.9% during the fourth quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after buying an additional 277,875 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Partners by 4.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after acquiring an additional 85,347 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Global Partners by 12.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock valued at $25,457,000 after acquiring an additional 67,337 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Global Partners by 13.1% in the 4th quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock worth $18,421,000 after acquiring an additional 50,890 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of Global Partners by 26.6% during the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock worth $11,281,000 after purchasing an additional 49,319 shares during the period. 38.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.