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 shares were sold at an average price of $48.10, for a total transaction of $156,084.50. Following the transaction, the chief operating officer directly owned 143,629 shares in the company, valued at $6,908,554.90. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 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 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 Down 0.3%

NYSE GLP traded down $0.15 during midday trading on Monday, hitting $46.49. 45,232 shares of the company traded hands, compared to its average volume of 46,728. Global Partners LP has a 52 week low of $39.58 and a 52 week high of $56.59. The company’s 50-day simple moving average is $46.99 and its 200-day simple moving average is $45.86. The company has a market cap of $1.58 billion, a PE ratio of 22.03 and a beta of 1.00. 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 (NYSE:GLP) last released its quarterly earnings results on Friday, February 27th. The energy company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.06). The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $6.94 billion. Global Partners had a return on equity of 15.99% and a net margin of 0.53%. As a group, equities research analysts forecast that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.5%. This is a boost from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, February 9th. Global Partners’s payout ratio is presently 144.08%.

Hedge Funds Weigh In On Global Partners

Hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. raised its position in shares of Global Partners by 4.9% in the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock valued at $251,093,000 after purchasing an additional 277,875 shares during the last quarter. JPMorgan Chase & Co. boosted its stake 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 purchasing an additional 90,169 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Global Partners by 4.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock worth $93,019,000 after purchasing an additional 85,347 shares during the last quarter. Goldman Sachs Group Inc. grew 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 purchasing an additional 67,337 shares during the last quarter. Finally, UBS Group AG increased its stake in Global Partners by 26.6% during the 3rd quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock valued at $11,281,000 after purchasing an additional 49,319 shares in the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on GLP shares. Zacks Research raised shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Global Partners from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Stifel Nicolaus increased their target price 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. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Global Partners has an average rating of “Hold” and an average target price 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.