Insider Selling: Global Partners (NYSE:GLP) COO Sells 252 Shares of Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 252 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $48.50, for a total value of $12,222.00. Following the completion of the sale, the chief operating officer owned 166,357 shares of the company’s stock, valued at $8,068,314.50. The trade was a 0.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 Up 0.5%

Shares of Global Partners stock traded up $0.24 on Wednesday, hitting $47.86. The stock had a trading volume of 29,183 shares, compared to its average volume of 44,510. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74. Global Partners LP has a one year low of $39.58 and a one year high of $56.59. The stock’s 50-day simple moving average is $46.09 and its two-hundred day simple moving average is $46.15. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 22.68 and a beta of 1.00.

Global Partners (NYSE:GLP) last announced its quarterly earnings results 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). The firm 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%. As a group, sell-side analysts predict that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders 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. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Monday, February 9th. Global Partners’s dividend payout ratio (DPR) is currently 144.08%.

Institutional Investors Weigh In On Global Partners

A number of large investors have recently modified their holdings of the stock. McMillan Office Inc. bought a new position in Global Partners in the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC bought a new stake in Global Partners during the 4th quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in Global Partners during the 4th quarter valued at approximately $41,000. PNC Financial Services Group Inc. purchased a new position in shares of Global Partners during the 3rd quarter worth approximately $48,000. Finally, Smartleaf Asset Management LLC purchased a new position in shares of Global Partners during the 4th quarter worth approximately $85,000. Institutional investors own 38.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Global Partners from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Stifel Nicolaus boosted their target price on Global Partners from $45.00 to $46.00 and gave the company 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 report on Tuesday, January 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Global Partners has a consensus rating of “Hold” and an average target price of $46.00.

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.