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

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 4,735 shares of Global Partners stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $47.76, for a total transaction of $226,143.60. Following the completion of the transaction, the chief operating officer owned 146,874 shares of the company’s stock, valued at $7,014,702.24. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Trading Up 0.2%

Shares of GLP opened at $47.56 on Thursday. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $56.59. The stock has a market cap of $1.62 billion, a PE ratio of 22.54 and a beta of 1.00. The company has a quick ratio of 0.63, a current ratio of 1.14 and a debt-to-equity ratio of 2.74. The business’s 50-day moving average price is $46.77 and its 200-day moving average price is $45.98.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, February 27th. The energy company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.06). The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $6.94 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.99%. On average, equities analysts forecast that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 6.4%. 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. Global Partners’s payout ratio is 144.08%.

Wall Street Analysts Forecast Growth

GLP has been the topic of several research analyst reports. Stifel Nicolaus upped their price target 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. Zacks Research raised Global Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of Global Partners in a research report on Monday, December 29th. Finally, Wall Street Zen raised 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, According to data from MarketBeat.com, Global Partners currently has a consensus rating of “Hold” and an average target price of $46.00.

Institutional Investors Weigh In On Global Partners

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

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.