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

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 435 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $47.31, for a total value of $20,579.85. Following the transaction, the chief operating officer directly owned 141,174 shares in the company, valued at approximately $6,678,941.94. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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 value 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 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 transaction 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 transaction 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 transaction 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 transaction of $120,000.00.

Global Partners Price Performance

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GLP stock opened at $46.49 on Tuesday. The firm has a market cap of $1.58 billion, a P/E ratio of 22.03 and a beta of 1.00. The firm's fifty day moving average is $47.05 and its 200 day moving average is $45.82. Global Partners LP has a 52 week low of $39.58 and a 52 week high of $56.59. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.63 and a current ratio of 1.14.

Global Partners (NYSE:GLP - Get Free Report) last posted its quarterly 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 return on equity of 15.99% and a net margin of 0.53%.The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $6.94 billion. Research analysts predict that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 9th were issued a $0.76 dividend. This is an increase from Global Partners's previous quarterly dividend of $0.76. This represents a $3.04 annualized dividend and a dividend yield of 6.5%. The ex-dividend date was Monday, February 9th. Global Partners's dividend payout ratio (DPR) is presently 144.08%.

Analyst Ratings Changes

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

Check Out Our Latest Stock Analysis on GLP

Hedge Funds Weigh In On Global Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. McMillan Office Inc. purchased a new stake in shares of Global Partners during the fourth quarter worth about $29,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Global Partners in the fourth quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in Global Partners during the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. purchased a new position in Global Partners during the 3rd quarter valued at about $48,000. Finally, Smartleaf Asset Management LLC bought a new position in Global Partners during the 4th quarter valued at approximately $85,000. 38.12% of the stock is owned by institutional investors.

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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