Global Partners (NYSE:GLP) COO Mark Romaine Sells 3,376 Shares of Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,376 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $47.00, for a total transaction of $158,672.00. Following the completion of the sale, the chief operating officer directly owned 159,109 shares in the company, valued at approximately $7,478,123. This represents a 2.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 shares were sold at an average price of $47.39, for a total transaction of $355,425.00.
• 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 transaction of $12,222.00.
• On Monday, March 9th, Mark Romaine sold 2,500 shares of Global Partners stock. The stock was sold at an average price of $48.00, for a total transaction of $120,000.00.

Global Partners Trading Up 0.2%

Global Partners stock opened at $47.56 on Thursday. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 22.54 and a beta of 1.00. The firm has a 50-day moving average of $46.77 and a 200-day moving average of $45.98. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63. Global Partners LP has a one year low of $39.58 and a one year high of $56.59.

Global Partners (NYSE:GLP) last released 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). 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 analyst estimates of $6.94 billion. On average, equities analysts expect 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 issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 6.4%. 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. Global Partners’s payout ratio is currently 144.08%.

Hedge Funds Weigh In On Global Partners

A number of large investors have recently made changes to their positions in GLP. Alps Advisors Inc. lifted its holdings in Global Partners by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock worth $251,093,000 after purchasing an additional 277,875 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Global Partners by 4.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after buying an additional 85,347 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Global Partners by 12.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock worth $25,457,000 after buying an additional 67,337 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Global Partners by 13.1% during the fourth quarter. JPMorgan Chase & Co. now owns 440,167 shares of the energy company’s stock worth $18,421,000 after buying an additional 50,890 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Global Partners by 26.6% in the third quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock valued at $11,281,000 after acquiring an additional 49,319 shares during the period. Institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

GLP has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research note on Monday, December 29th. Stifel Nicolaus boosted 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. Wall Street Zen upgraded Global Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Zacks Research upgraded shares of 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, the company presently has a consensus rating of “Hold” and an average price target 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.