Mark Romaine Sells 7,500 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 7,500 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $47.39, for a total value of $355,425.00. Following the completion of the transaction, the chief operating officer directly owned 151,609 shares of the company’s stock, valued at approximately $7,184,750.51. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 Monday, March 16th, Mark Romaine sold 3,376 shares of Global Partners stock. The shares were 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 stock was sold at an average price of $48.00, for a total value of $120,000.00.

Global Partners Stock Up 0.2%

Shares of GLP traded up $0.09 during midday trading on Wednesday, hitting $47.56. 33,612 shares of the company’s stock traded hands, compared to its average volume of 43,850. The company has a current ratio of 1.14, a quick ratio of 0.63 and a debt-to-equity ratio of 2.74. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.54 and a beta of 1.00. Global Partners LP has a 1 year low of $39.58 and a 1 year high of $56.59. The firm’s fifty day moving average is $46.62 and its 200-day moving average is $45.97.

Global Partners (NYSE:GLP) last posted its quarterly earnings data on Friday, February 27th. The energy company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $6.94 billion. As a group, sell-side analysts anticipate that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently disclosed 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 represents a $3.04 annualized dividend and a yield of 6.4%. The ex-dividend date was Monday, February 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is presently 144.08%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. McMillan Office Inc. purchased a new position in Global Partners in the 4th quarter worth approximately $29,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Global Partners in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in shares of Global Partners in the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. acquired a new stake 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 worth approximately $85,000. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

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