Mark Romaine Sells 3,245 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,245 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $48.10, for a total transaction of $156,084.50. Following the completion of the sale, the chief operating officer owned 143,629 shares of the company’s stock, valued at approximately $6,908,554.90. The trade was a 2.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 Friday, March 20th, Mark Romaine sold 2,020 shares of Global Partners stock. The stock was sold at an average price of $48.19, for a total transaction of $97,343.80.
• 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 shares were sold at an average price of $48.00, for a total value of $120,000.00.

Global Partners Stock Performance

Shares of GLP opened at $45.88 on Wednesday. The stock has a 50 day moving average of $47.08 and a 200 day moving average of $45.78. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 21.74 and a beta of 1.00. Global Partners LP has a 12 month low of $39.58 and a 12 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.

Global Partners (NYSE:GLP) last posted its quarterly earnings data 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 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 analysts’ expectations of $6.94 billion. As a group, sell-side analysts forecast that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business 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. The ex-dividend date was Monday, February 9th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a yield of 6.6%. Global Partners’s dividend payout ratio (DPR) is currently 144.08%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Global Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McMillan Office Inc. bought a new position in Global Partners during the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Global Partners in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in shares of Global Partners in the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. purchased a new stake in shares of Global Partners during the 3rd quarter valued at approximately $48,000. Finally, Smartleaf Asset Management LLC bought a new position in Global Partners in the 4th quarter worth approximately $85,000. 38.12% of the stock is currently owned by institutional investors.

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.