Global Partners (NYSE:GLP) COO Sells $97,343.80 in Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,020 shares of the stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $48.19, for a total transaction of $97,343.80. Following the completion of the sale, the chief operating officer directly owned 141,609 shares in the company, valued at $6,824,137.71. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $47.31, for a total value of $20,579.85.
• On Thursday, March 19th, Mark Romaine sold 3,245 shares of Global Partners stock. The shares were sold at an average price of $48.10, for a total value of $156,084.50.
• 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 stock was 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 value of $120,000.00.

Global Partners Trading Down 0.3%

GLP stock traded down $0.15 during midday trading on Monday, reaching $46.49. The company’s stock had a trading volume of 45,232 shares, compared to its average volume of 46,728. Global Partners LP has a 1 year low of $39.58 and a 1 year high of $56.59. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 22.03 and a beta of 1.00. The stock has a fifty day simple moving average of $46.99 and a two-hundred day simple moving average of $45.86. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14.

Global Partners (NYSE:GLP) last issued its earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The company had revenue of $4.65 billion for 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 research analysts predict that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a $0.76 dividend. 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 annualized dividend and a yield of 6.5%. Global Partners’s dividend payout ratio is presently 144.08%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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

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.