Global Partners (NYSE:GLP) COO Mark Romaine Sells 4,735 Shares

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 4,735 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $47.76, for a total value of $226,143.60. Following the completion of the transaction, the chief operating officer owned 146,874 shares in the company, valued at approximately $7,014,702.24. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, March 17th, Mark Romaine sold 7,500 shares of Global Partners stock. The shares were sold at an average price of $47.39, for a total value 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 value 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 transaction of $12,222.00.
• On Monday, March 9th, Mark Romaine sold 2,500 shares of Global Partners stock. The shares were sold at an average price of $48.00, for a total transaction of $120,000.00.

Global Partners Trading Up 0.2%

GLP stock traded up $0.09 during midday trading on Wednesday, reaching $47.56. 33,612 shares of the company’s stock traded hands, compared to its average volume of 43,850. The company has a market capitalization of $1.62 billion, a P/E ratio of 22.54 and a beta of 1.00. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63. Global Partners LP has a fifty-two week low of $39.58 and a fifty-two week high of $56.59. The business has a 50-day moving average price of $46.62 and a two-hundred day moving average price of $45.97.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.06). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $6.94 billion. Equities research analysts forecast that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

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

Institutional Investors Weigh In On Global Partners

Large investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. raised its stake in shares of Global Partners by 5.1% in the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock valued at $274,655,000 after purchasing an additional 275,906 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Global Partners by 37.0% in the second quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock worth $17,610,000 after purchasing an additional 90,169 shares in the last quarter. ING Groep NV acquired a new position in Global Partners in the third quarter worth about $1,296,000. NBW Capital LLC increased its holdings in Global Partners by 1.5% in the second quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock valued at $4,208,000 after buying an additional 1,181 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Global Partners during the third quarter valued at approximately $518,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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