Global Partners (NYSE:GLP) COO Sells $156,084.50 in Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,245 shares of the firm’s stock in a transaction dated 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 sale, the chief operating officer directly owned 143,629 shares in the company, 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 legal filing with the SEC, which can be accessed 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 transaction 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 transaction of $97,343.80.
• 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 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 Stock Down 2.2%

Shares of GLP opened at $45.16 on Thursday. Global Partners LP has a fifty-two week low of $39.58 and a fifty-two week high of $56.59. The company’s fifty day moving average is $47.11 and its two-hundred day moving average is $45.78. The firm has a market cap of $1.54 billion, a PE ratio of 21.40 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.

Global Partners (NYSE:GLP) last released 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). Global Partners had a return on equity of 15.99% and a net margin of 0.53%.The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $6.94 billion. Analysts forecast that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a dividend of $0.76 per share. This is a boost from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a yield of 6.7%. The ex-dividend date was Monday, February 9th. Global Partners’s payout ratio is currently 144.08%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its holdings in shares of Global Partners by 5.1% during the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock valued at $274,655,000 after buying an additional 275,906 shares during the period. JPMorgan Chase & Co. boosted its holdings in Global Partners by 37.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock worth $17,610,000 after acquiring an additional 90,169 shares during the period. ING Groep NV purchased a new position in Global Partners in the 3rd quarter worth approximately $1,296,000. NBW Capital LLC grew its position in Global Partners by 1.5% in the second quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock valued at $4,208,000 after acquiring an additional 1,181 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Global Partners in the third quarter valued at approximately $518,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

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.