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

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,020 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $48.19, for a total transaction of $97,343.80. Following the completion of the transaction, the chief operating officer directly owned 141,609 shares of the company’s stock, valued at approximately $6,824,137.71. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was 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 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 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 shares were sold at an average price of $48.00, for a total transaction of $120,000.00.

Global Partners Price Performance

Shares of GLP opened at $46.49 on Tuesday. 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’s fifty day simple moving average is $47.05 and its 200 day simple moving average is $45.82. 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 price-to-earnings ratio of 22.03 and a beta of 1.00.

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

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were given a $0.76 dividend. The ex-dividend date of this dividend was Monday, February 9th. This is a boost from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a dividend yield of 6.5%. Global Partners’s payout ratio is currently 144.08%.

Institutional Trading of Global Partners

Several large investors have recently made changes to their positions in GLP. McMillan Office Inc. bought a new position in Global Partners in the fourth quarter valued at approximately $29,000. Garton & Associates Financial Advisors LLC bought a new stake in Global Partners during the fourth quarter worth $29,000. International Assets Investment Management LLC bought a new stake in Global Partners during the fourth quarter worth $41,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Partners in the 3rd quarter valued at $48,000. Finally, Smartleaf Asset Management LLC acquired a new stake in shares of Global Partners in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.