Mark Romaine Sells 4,735 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 4,735 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $47.76, for a total transaction of $226,143.60. Following the transaction, the chief operating officer directly owned 146,874 shares of the company’s stock, valued at $7,014,702.24. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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

NYSE GLP opened at $48.34 on Friday. 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 LP has a 1-year low of $39.58 and a 1-year high of $56.59. The business has a 50 day simple moving average of $46.90 and a two-hundred day simple moving average of $46.00. The stock has a market capitalization of $1.64 billion, a PE ratio of 22.91 and a beta of 1.00.

Global Partners (NYSE:GLP) last issued 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). The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Global Partners had a return on equity of 15.99% and a net margin of 0.53%. On average, research analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 9th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Monday, February 9th. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. This represents a $3.04 dividend on an annualized basis and a yield of 6.3%. Global Partners’s payout ratio is currently 144.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Alps Advisors Inc. raised its stake in shares of Global Partners by 5.1% in the third quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company’s stock valued at $274,655,000 after acquiring an additional 275,906 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 90,169 shares during the last quarter. ING Groep NV purchased a new position in shares of Global Partners during the 3rd quarter worth about $1,296,000. NBW Capital LLC grew its holdings in 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 purchasing an additional 1,181 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Global Partners during the 3rd quarter valued at about $518,000. 38.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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