Mark Romaine Sells 3,376 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,376 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $47.00, for a total value of $158,672.00. Following the completion of the transaction, the chief operating officer directly owned 159,109 shares in the company, valued at approximately $7,478,123. This trade represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, March 18th, Mark Romaine sold 4,735 shares of Global Partners stock. The stock was 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 stock was sold at an average price of $47.39, for a total transaction of $355,425.00.
• 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 transaction 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 transaction of $120,000.00.

Global Partners Stock Up 0.9%

Shares of NYSE GLP opened at $48.34 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of 22.91 and a beta of 1.00. Global Partners LP has a 12-month low of $39.58 and a 12-month high of $56.59. The company’s fifty day simple moving average is $46.90 and its 200 day simple moving average is $46.00. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74.

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

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were paid a $0.76 dividend. The ex-dividend date was Monday, February 9th. This represents a $3.04 annualized dividend and a dividend yield of 6.3%. This is a boost from Global Partners’s previous quarterly dividend of $0.76. Global Partners’s dividend payout ratio (DPR) is 144.08%.

Institutional Investors Weigh In On Global Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Global Partners in the 1st quarter valued at about $862,000. Cetera Investment Advisers increased its holdings in Global Partners by 40.3% during the 2nd quarter. Cetera Investment Advisers now owns 24,815 shares of the energy company’s stock worth $1,308,000 after purchasing an additional 7,123 shares in the last quarter. Traub Capital Management LLC bought a new stake in Global Partners during the 2nd quarter worth approximately $192,000. JPMorgan Chase & Co. raised its stake in shares of Global Partners by 37.0% in the second 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 during the last quarter. Finally, NBW Capital LLC raised its stake in shares of Global Partners by 1.5% in the second quarter. NBW Capital LLC now owns 79,794 shares of the energy company’s stock worth $4,208,000 after purchasing an additional 1,181 shares during the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Analyst Ratings Changes

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