Mark Romaine Sells 435 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 435 shares of the business’s stock in a transaction dated 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 in the company, valued at $6,678,941.94. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 transaction 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 transaction of $156,084.50.
• 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 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 shares were 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 stock was sold at an average price of $48.00, for a total value of $120,000.00.

Global Partners Trading Down 0.3%

Shares of NYSE 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’s 50-day moving average is $46.99 and its 200-day moving average is $45.86. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 22.03 and a beta of 1.00. Global Partners LP has a 52-week low of $39.58 and a 52-week high of $56.59.

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). 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 analysts’ expectations of $6.94 billion. Analysts expect that Global Partners LP will post 2.13 EPS for the current fiscal year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were paid a $0.76 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Monday, February 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 6.5%. Global Partners’s payout ratio is presently 144.08%.

Institutional Trading of Global Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of GLP. McMillan Office Inc. acquired a new stake in shares of Global Partners during the 4th quarter worth about $29,000. Garton & Associates Financial Advisors LLC purchased a new position in Global Partners in the fourth quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new position in Global Partners in the fourth quarter valued at approximately $41,000. PNC Financial Services Group Inc. acquired a new stake in Global Partners during the third quarter worth approximately $48,000. Finally, Smartleaf Asset Management LLC purchased a new stake in shares of Global Partners during the 4th quarter worth approximately $85,000. 38.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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