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 Global Partners stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $51.53, for a total transaction of $120,631.73. Following the completion of the sale, the chief operating officer now owns 157,531 shares of the company's stock, valued at approximately $8,117,572.43. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Global Partners Stock Performance

Shares of Global Partners stock opened at $51.42 on Thursday. The company's 50 day moving average price is $51.80 and its two-hundred day moving average price is $52.26. The firm has a market capitalization of $1.75 billion, a P/E ratio of 16.32 and a beta of 1.05. Global Partners LP has a fifty-two week low of $37.00 and a fifty-two week high of $60.00. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.17 and a quick ratio of 0.68.

Global Partners (NYSE:GLP - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.39. Global Partners had a net margin of 0.76% and a return on equity of 21.10%. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. On average, equities analysts forecast that Global Partners LP will post 2.13 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were given a $0.745 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 5.80%. This is an increase from Global Partners's previous quarterly dividend of $0.74. Global Partners's payout ratio is 94.60%.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut shares of Global Partners from a "buy" rating to a "hold" rating and boosted their target price for the company from $54.00 to $56.00 in a research report on Tuesday, March 4th.

Hedge Funds Weigh In On Global Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Global Partners in the first quarter valued at approximately $862,000. Jones Financial Companies Lllp lifted its position in shares of Global Partners by 56,296.0% during the 1st quarter. Jones Financial Companies Lllp now owns 28,198 shares of the energy company's stock worth $1,505,000 after buying an additional 28,148 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Global Partners by 14.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,849,454 shares of the energy company's stock worth $98,724,000 after purchasing an additional 240,342 shares during the last quarter. HighTower Advisors LLC grew its position in Global Partners by 22.3% during the first quarter. HighTower Advisors LLC now owns 15,144 shares of the energy company's stock valued at $808,000 after buying an additional 2,760 shares during the period. Finally, NBW Capital LLC increased its stake in shares of Global Partners by 50.5% during the 1st quarter. NBW Capital LLC now owns 78,613 shares of the energy company's stock worth $4,196,000 after purchasing an additional 26,388 shares during the last quarter. Institutional investors and hedge funds 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.

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