Key Points
- Mark Romaine, Global Partners' COO, sold a total of 18,363 shares across several March transactions (including 3,376 shares on March 16), generating roughly $872,000 and reducing his stake to 159,109 shares—a 2.08% ownership decrease.
- Global Partners missed quarterly estimates, reporting $0.54 EPS vs. $0.60 expected and $4.65B revenue vs. $6.94B expected, and recently raised its quarterly dividend to $0.76 (annualized $3.04) for a 6.4% yield
- The consensus analyst view is a "Hold" with a $46 target; the stock trades near $47.56, with a market cap of $1.62 billion and a P/E of 22.54.
Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 3,376 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $47.00, for a total transaction of $158,672.00. Following the transaction, the chief operating officer directly owned 159,109 shares in the company, valued at $7,478,123. This represents a 2.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Mark Romaine also recently made the following trade(s):
- 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 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 Tuesday, March 10th, Mark Romaine sold 252 shares of Global Partners stock. The stock was 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%
GLP opened at $47.56 on Thursday. The stock has a market capitalization of $1.62 billion, a price-to-earnings 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. Global Partners LP has a twelve month low of $39.58 and a twelve month high of $56.59. The company has a 50-day simple moving average of $46.77 and a 200 day simple moving average of $45.98.
Global Partners (NYSE:GLP - Get Free Report) last released its earnings results on Friday, February 27th. The energy company reported $0.54 EPS for the quarter, missing the consensus estimate 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%. Analysts predict that Global Partners LP will post 2.13 EPS for the current fiscal year.
Global Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Monday, February 9th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 6.4%. 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. Global Partners's payout ratio is 144.08%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on GLP shares. Stifel Nicolaus raised their target price on Global Partners from $45.00 to $46.00 and gave the company a "hold" rating in a report on Monday, March 2nd. Zacks Research raised shares of Global Partners from a "strong sell" rating to a "hold" rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Global Partners in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of 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 MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $46.00.
Get Our Latest Analysis on Global Partners
Institutional Investors Weigh In On Global Partners
Institutional investors have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC bought a new position in shares of Global Partners during the fourth quarter valued at $29,000. Susquehanna Portfolio Strategies LLC increased its stake in shares of Global Partners by 14.6% in the fourth 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 during the period. Infrastructure Capital Advisors LLC raised its position in shares of Global Partners by 8.8% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 107,681 shares of the energy company's stock worth $4,506,000 after acquiring an additional 8,694 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of Global Partners by 63.1% during the fourth quarter. Osaic Holdings Inc. now owns 9,788 shares of the energy company's stock worth $410,000 after acquiring an additional 3,788 shares during the last quarter. Finally, Mariner LLC acquired a new position in shares of Global Partners in the fourth quarter worth approximately $351,000. 38.12% of the stock is owned by institutional investors.
Global Partners Company Profile
(
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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