Global Partners LP (NYSE:GLP – Get Free Report) COO Mark Romaine sold 435 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $47.31, for a total transaction of $20,579.85. Following the completion of the transaction, the chief operating officer owned 141,174 shares of the company’s stock, valued at $6,678,941.94. This represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Mark Romaine also recently made the following trade(s):
- 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 value of $97,343.80.
- On Thursday, March 19th, Mark Romaine sold 3,245 shares of Global Partners stock. The shares were sold at an average price of $48.10, for a total value of $156,084.50.
- 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 value of $226,143.60.
- On Tuesday, March 17th, Mark Romaine sold 7,500 shares of Global Partners stock. The stock was sold at an average price of $47.39, for a total value 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 value of $158,672.00.
- 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 value 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 value of $120,000.00.
Global Partners Stock Performance
Shares of GLP traded down $0.15 during mid-day trading on Monday, reaching $46.49. 45,232 shares of the company’s stock were exchanged, compared to its average volume of 46,728. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63. The stock has a market capitalization of $1.58 billion, a PE ratio of 22.03 and a beta of 1.00. The business’s fifty day simple moving average is $46.99 and its 200-day simple moving average is $45.86. Global Partners LP has a 52-week low of $39.58 and a 52-week high of $56.59.
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 issued a $0.76 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $3.04 dividend on an annualized basis and a yield of 6.5%. This is a boost from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio is presently 144.08%.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Global Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Wall Street Zen upgraded shares of Global Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Global Partners in a research note on Monday, December 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Global Partners from $45.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.00.
Get Our Latest Research Report on GLP
Hedge Funds Weigh In On Global Partners
A number of institutional investors and hedge funds have recently bought and sold shares of GLP. Alps Advisors Inc. boosted its position in shares of Global Partners by 5.1% in the 3rd quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock valued at $274,655,000 after purchasing an additional 275,906 shares during the period. JPMorgan Chase & Co. lifted its position 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 buying an additional 90,169 shares in the last quarter. ING Groep NV purchased a new stake in shares of Global Partners during the third quarter worth $1,296,000. NBW Capital LLC lifted its holdings in shares of Global Partners by 1.5% during the 2nd quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock valued at $4,208,000 after buying an additional 1,181 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Global Partners in the third quarter worth approximately $518,000. Hedge funds and other institutional investors 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.
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