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

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,245 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $48.10, for a total value of $156,084.50. Following the completion of the transaction, the chief operating officer directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, March 23rd, Mark Romaine sold 435 shares of Global Partners stock. The shares were sold at an average price of $47.31, for a total value 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 value 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 value of $226,143.60.
• 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 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 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 Down 0.3%

Shares of GLP opened at $46.49 on Tuesday. Global Partners LP has a 12-month low of $39.58 and a 12-month high of $56.59. The firm has a market capitalization of $1.58 billion, a PE ratio of 22.03 and a beta of 1.00. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74. The stock’s fifty day simple moving average is $47.05 and its 200-day simple moving average is $45.82.

Global Partners (NYSE:GLP) last announced its quarterly 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). Global Partners had a net margin of 0.53% and a return on equity of 15.99%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $6.94 billion. As a group, research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a dividend of $0.76 per share. This is an increase from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, February 9th. This represents a $3.04 annualized dividend and a yield of 6.5%. Global Partners’s dividend payout ratio is 144.08%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Global Partners

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

About Global Partners

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.