Global Partners (NYSE:GLP) COO Mark Romaine Sells 252 Shares of Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 252 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $48.50, for a total transaction of $12,222.00. Following the sale, the chief operating officer directly owned 166,357 shares in the company, valued at approximately $8,068,314.50. The trade was a 0.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 Performance

NYSE:GLP traded up $0.09 during trading hours on Thursday, reaching $47.75. The company had a trading volume of 1,800 shares, compared to its average volume of 43,617. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 22.63 and a beta of 1.00. 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 firm’s 50 day moving average price is $46.21 and its 200-day moving average price is $46.16. 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 quarterly earnings results on Friday, February 27th. The energy company reported $0.54 earnings per share (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 during the quarter, compared to analysts’ expectations of $6.94 billion. On average, analysts forecast that Global Partners LP will post 2.13 EPS for the current year.

Global Partners Increases Dividend

The firm also recently announced 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 is an increase from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Monday, February 9th. Global Partners’s dividend payout ratio is currently 144.08%.

Institutional Trading of Global Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLP. Garton & Associates Financial Advisors LLC purchased a new stake in Global Partners in the 4th quarter worth $29,000. Susquehanna Portfolio Strategies LLC raised its position in shares of Global Partners by 14.6% during the 4th quarter. Susquehanna Portfolio Strategies LLC now owns 4,898 shares of the energy company’s stock valued at $205,000 after buying an additional 625 shares in the last quarter. Infrastructure Capital Advisors LLC raised its position in shares of Global Partners by 8.8% during the 4th quarter. Infrastructure Capital Advisors LLC now owns 107,681 shares of the energy company’s stock valued at $4,506,000 after buying an additional 8,694 shares in the last quarter. Osaic Holdings Inc. grew its position in Global Partners by 63.1% in the fourth quarter. Osaic Holdings Inc. now owns 9,788 shares of the energy company’s stock worth $410,000 after acquiring an additional 3,788 shares in the last quarter. Finally, Mariner LLC purchased a new position in Global Partners in the fourth quarter worth about $351,000. Institutional investors own 38.12% of the company’s stock.

Analyst Upgrades and Downgrades

GLP has been the subject of several analyst reports. Zacks Research upgraded Global Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Global Partners in a report on Monday, December 29th. Stifel Nicolaus boosted their price objective on Global Partners from $45.00 to $46.00 and gave the company a “hold” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised shares of Global Partners from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Global Partners has an average rating of “Hold” and a consensus 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.