Mark Romaine Sells 3,245 Shares of Global Partners (NYSE:GLP) Stock

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 3,245 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $48.10, for a total transaction of $156,084.50. Following the transaction, the chief operating officer owned 143,629 shares of the company’s stock, valued at $6,908,554.90. This trade represents a 2.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 23rd, Mark Romaine sold 435 shares of Global Partners stock. The stock was sold at an average price of $47.31, for a total transaction of $20,579.85.
• On Friday, March 20th, Mark Romaine sold 2,020 shares of Global Partners stock. The shares were sold at an average price of $48.19, for a total transaction of $97,343.80.
• On Wednesday, March 18th, Mark Romaine sold 4,735 shares of Global Partners stock. The shares were 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 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 Down 0.3%

Shares of NYSE:GLP traded down $0.15 during trading on Monday, hitting $46.49. The company had a trading volume of 45,232 shares, compared to its average volume of 46,728. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 22.03 and a beta of 1.00. The company has a debt-to-equity ratio of 2.74, a current ratio of 1.14 and a quick ratio of 0.63. The company has a fifty day simple moving average of $46.99 and a two-hundred day simple moving average of $45.86. Global Partners LP has a one year low of $39.58 and a one year high of $56.59.

Global Partners (NYSE:GLP) last released its 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 for the quarter, compared to the consensus estimate of $6.94 billion. As a group, equities analysts forecast that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 6.5%. This is a positive change from Global Partners’s previous quarterly dividend of $0.76. The ex-dividend date was Monday, February 9th. Global Partners’s dividend payout ratio (DPR) is presently 144.08%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. raised its position in Global Partners by 4.9% during the 4th quarter. Alps Advisors Inc. now owns 5,999,844 shares of the energy company’s stock valued at $251,093,000 after purchasing an additional 277,875 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Global Partners by 37.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company’s stock worth $17,610,000 after buying an additional 90,169 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Global Partners by 4.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,895 shares of the energy company’s stock valued at $93,019,000 after buying an additional 85,347 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Global Partners by 12.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 608,283 shares of the energy company’s stock valued at $25,457,000 after buying an additional 67,337 shares during the period. Finally, UBS Group AG raised its holdings in shares of Global Partners by 26.6% in the third quarter. UBS Group AG now owns 235,024 shares of the energy company’s stock valued at $11,281,000 after acquiring an additional 49,319 shares in the last quarter. 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.