Global Partners (NYSE:GLP) COO Mark Romaine Sells 7,500 Shares of Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $47.39, for a total value of $355,425.00. Following the sale, the chief operating officer directly owned 151,609 shares in the company, valued at $7,184,750.51. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, March 18th, Mark Romaine sold 4,735 shares of Global Partners stock. The stock was sold at an average price of $47.76, for a total value of $226,143.60.
• 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 shares were 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 transaction of $120,000.00.

Global Partners Stock Up 0.2%

Shares of NYSE:GLP opened at $47.56 on Thursday. The firm has a 50 day simple moving average of $46.77 and a 200-day simple moving average of $45.98. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $56.59. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 2.74. The company has a market capitalization of $1.62 billion, a PE ratio of 22.54 and a beta of 1.00.

Global Partners (NYSE:GLP) last posted its earnings results on Friday, February 27th. The energy company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $6.94 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.99%. On average, equities analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a $0.76 dividend. 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 yield of 6.4%. The ex-dividend date was Monday, February 9th. Global Partners’s dividend payout ratio (DPR) is presently 144.08%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Global Partners

Institutional investors have recently bought and sold shares of the company. Spinnaker Trust lifted its stake in shares of Global Partners by 6.6% in the 3rd quarter. Spinnaker Trust now owns 4,850 shares of the energy company’s stock worth $233,000 after acquiring an additional 300 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Global Partners by 1.3% during the third quarter. Exchange Traded Concepts LLC now owns 30,094 shares of the energy company’s stock worth $1,445,000 after acquiring an additional 375 shares during the period. Apollon Wealth Management LLC raised its holdings in Global Partners by 4.6% during the third quarter. Apollon Wealth Management LLC now owns 11,330 shares of the energy company’s stock worth $544,000 after purchasing an additional 501 shares in the last quarter. Susquehanna Portfolio Strategies LLC raised its holdings in Global Partners by 14.6% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 4,898 shares of the energy company’s stock worth $205,000 after purchasing an additional 625 shares in the last quarter. Finally, McMillan Office Inc. acquired a new stake in Global Partners in the fourth quarter valued at about $29,000. 38.12% of the stock is owned by institutional investors and hedge funds.

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.