Global Partners LP (NYSE:GLP) COO Sells $120,631.73 in Stock

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 2,341 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $51.53, for a total value of $120,631.73. Following the completion of the transaction, the chief operating officer now directly owns 157,531 shares in the company, valued at $8,117,572.43. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, June 24th, Mark Romaine sold 6,659 shares of Global Partners stock. The stock was sold at an average price of $54.26, for a total value of $361,317.34.

Global Partners Stock Performance

Shares of NYSE GLP traded down $0.01 during trading on Friday, hitting $52.97. The company had a trading volume of 36,567 shares, compared to its average volume of 72,472. The stock has a 50 day simple moving average of $51.88 and a 200 day simple moving average of $52.21. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.68 and a current ratio of 1.17. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The firm has a market capitalization of $1.80 billion, a P/E ratio of 16.81 and a beta of 1.05.

Global Partners (NYSE:GLP - Get Free Report) last released its earnings results on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.39. Global Partners had a return on equity of 21.10% and a net margin of 0.76%. The firm had revenue of $4.59 billion during the quarter, compared to analysts' expectations of $5.64 billion. As a group, analysts anticipate that Global Partners LP will post 2.13 earnings per share for the current year.

Global Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a dividend of $0.745 per share. The ex-dividend date was Friday, May 9th. This represents a $2.98 annualized dividend and a dividend yield of 5.63%. This is a boost from Global Partners's previous quarterly dividend of $0.74. Global Partners's dividend payout ratio (DPR) is currently 94.60%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus downgraded Global Partners from a "buy" rating to a "hold" rating and raised their price objective for the stock from $54.00 to $56.00 in a research note on Tuesday, March 4th.

Institutional Trading of Global Partners

Several institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers grew its position in shares of Global Partners by 1.1% during the first quarter. Cetera Investment Advisers now owns 17,692 shares of the energy company's stock worth $944,000 after purchasing an additional 196 shares in the last quarter. United Capital Financial Advisors LLC grew its position in shares of Global Partners by 1.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 15,464 shares of the energy company's stock worth $720,000 after purchasing an additional 226 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Global Partners by 0.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,230 shares of the energy company's stock worth $1,667,000 after purchasing an additional 259 shares in the last quarter. US Bancorp DE grew its position in shares of Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock worth $66,000 after purchasing an additional 500 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Global Partners by 22.3% during the first quarter. HighTower Advisors LLC now owns 15,144 shares of the energy company's stock worth $808,000 after purchasing an additional 2,760 shares in the last quarter. Hedge funds and other institutional investors own 38.12% of the company's stock.

Global Partners Company Profile

Global Partners LP engages in the purchasing, selling, gathering, blending, storing, and logistics of transporting gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, and propane to wholesalers, retailers, and commercial customers. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.