Key Points
- COO Mark Romaine sold 2,500 shares on March 9 at an average price of $48 for $120,000, lowering his direct stake to 166,609 shares (a 1.48% decrease); he also sold 252 shares on March 10 at $48.50.
- Global Partners missed Q4 expectations with EPS of $0.54 vs. $0.60 and revenue of $4.65B vs. $6.94B, and it pays a quarterly dividend of $0.76 (annualized $3.04) representing a ~6.4% yield but a high payout ratio of 144%.
Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 252 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $48.50, for a total transaction of $12,222.00. Following the transaction, the chief operating officer owned 166,357 shares in the company, valued at $8,068,314.50. This trade represents a 0.15% 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 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 transaction of $120,000.00.
Global Partners Trading Up 0.2%
NYSE:GLP traded up $0.09 during mid-day trading on Thursday, hitting $47.75. 1,800 shares of the stock traded hands, compared to its average volume of 43,617. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.63 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. The firm's 50 day moving average is $46.21 and its two-hundred day moving average is $46.16. 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 - Get Free Report) last announced 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 return on equity of 15.99% and a net margin of 0.53%.The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $6.94 billion. On average, equities research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.
Global Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Monday, February 9th were given a $0.76 dividend. This is a boost 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 annualized dividend and a yield of 6.4%. Global Partners's dividend payout ratio is currently 144.08%.
Hedge Funds Weigh In On Global Partners
Institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. boosted its holdings in Global Partners by 5.1% during the third quarter. Alps Advisors Inc. now owns 5,721,969 shares of the energy company's stock worth $274,655,000 after buying an additional 275,906 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Global Partners by 37.0% in the second quarter. JPMorgan Chase & Co. now owns 333,973 shares of the energy company's stock valued at $17,610,000 after buying an additional 90,169 shares in the last quarter. ING Groep NV acquired a new position in shares of Global Partners in the third quarter worth about $1,296,000. NBW Capital LLC boosted its stake in shares of Global Partners by 1.5% during the 2nd quarter. NBW Capital LLC now owns 79,794 shares of the energy company's stock worth $4,208,000 after acquiring an additional 1,181 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of 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.
Analysts Set New Price Targets
Several research firms recently commented on GLP. Wall Street Zen raised shares of 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 research note on Monday, December 29th. Zacks Research raised shares of Global Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Finally, Stifel Nicolaus boosted their price target on Global Partners from $45.00 to $46.00 and gave the company a "hold" rating in a report on Monday, March 2nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $46.00.
Check Out Our Latest Research Report on GLP
About Global Partners
(
Get Free Report)
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.
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