Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 6,659 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $54.26, for a total value of $361,317.34. Following the completion of the sale, the chief operating officer now directly owns 159,872 shares in the company, valued at approximately $8,674,654.72. The trade was a 4.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mark Romaine also recently made the following trade(s):
- On Wednesday, June 25th, Mark Romaine sold 2,341 shares of Global Partners stock. The shares were sold at an average price of $51.53, for a total transaction of $120,631.73.
Global Partners Stock Down 0.0%
Shares of NYSE GLP traded down $0.01 during trading on Friday, reaching $52.97. The company had a trading volume of 36,567 shares, compared to its average volume of 72,376. Global Partners LP has a 12-month low of $37.00 and a 12-month high of $60.00. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 2.69. The business's 50-day moving average is $51.88 and its 200 day moving average is $52.24. The stock has a market cap of $1.80 billion, a PE ratio of 16.81 and a beta of 1.05.
Global Partners (NYSE:GLP - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The energy company reported $0.36 earnings per share 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. As a group, equities analysts forecast that Global Partners LP will post 2.13 earnings per share for the current fiscal year.
Global Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Friday, May 9th were given a $0.745 dividend. The ex-dividend date was Friday, May 9th. This is a boost from Global Partners's previous quarterly dividend of $0.74. This represents a $2.98 annualized dividend and a yield of 5.63%. Global Partners's dividend payout ratio is 94.60%.
Analyst Upgrades and Downgrades
Separately, Stifel Nicolaus downgraded shares of Global Partners from a "buy" rating to a "hold" rating and raised their target price for the company from $54.00 to $56.00 in a research note on Tuesday, March 4th.
View Our Latest Stock Report on GLP
Institutional Trading of Global Partners
Several institutional investors have recently added to or reduced their stakes in GLP. Proficio Capital Partners LLC raised its stake in Global Partners by 4,555.0% during the 4th quarter. Proficio Capital Partners LLC now owns 5,818,750 shares of the energy company's stock valued at $270,863,000 after buying an additional 5,693,750 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Global Partners in the fourth quarter worth $330,000. US Bancorp DE increased its position in Global Partners by 54.1% during the fourth quarter. US Bancorp DE now owns 1,425 shares of the energy company's stock valued at $66,000 after acquiring an additional 500 shares during the last quarter. NBW Capital LLC purchased a new stake in Global Partners during the fourth quarter valued at $2,431,000. Finally, Raymond James Financial Inc. bought a new position in Global Partners in the fourth quarter valued at about $6,510,000. 38.12% of the stock is currently owned by hedge funds and other institutional investors.
About Global Partners
(
Get Free Report)
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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