Global Partners (NYSE:GLP) COO Mark Romaine Sells 2,500 Shares of Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $48.00, for a total transaction of $120,000.00. Following the completion of the transaction, the chief operating officer owned 166,609 shares of the company’s stock, valued at approximately $7,997,232. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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.

Global Partners Trading Up 0.4%

Shares of GLP traded up $0.19 during mid-day trading on Thursday, reaching $47.85. 1,420 shares of the company were exchanged, compared to its average volume of 43,610. The business has a 50 day simple moving average of $46.21 and a two-hundred day simple moving average of $46.16. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14. The stock has a market capitalization of $1.63 billion, a PE ratio of 22.68 and a beta of 1.00. Global Partners LP has a 52 week low of $39.58 and a 52 week 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 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 firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $6.94 billion. On average, analysts predict that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date was Monday, February 9th. This is an increase from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is 144.08%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Global Partners

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