Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 1,881 Shares

Global Partners LP (NYSE:GLP - Get Free Report) COO Mark Romaine sold 1,881 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $51.68, for a total transaction of $97,210.08. Following the sale, the chief operating officer owned 148,531 shares of the company's stock, valued at approximately $7,676,082.08. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, July 15th, Mark Romaine sold 7,119 shares of Global Partners stock. The shares were sold at an average price of $51.28, for a total transaction of $365,062.32.
• On Tuesday, June 24th, Mark Romaine sold 6,659 shares of Global Partners stock. The shares were sold at an average price of $54.26, for a total transaction of $361,317.34.
• 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 Trading Up 1.2%

Shares of NYSE:GLP traded up $0.62 during midday trading on Friday, hitting $51.63. 25,246 shares of the stock traded hands, compared to its average volume of 70,399. The stock has a market capitalization of $1.76 billion, a PE ratio of 16.39 and a beta of 1.03. The business's 50 day moving average is $52.16 and its two-hundred day moving average is $52.48. The company has a quick ratio of 0.68, a current ratio of 1.17 and a debt-to-equity ratio of 2.69. Global Partners LP has a one year low of $37.00 and a one year high of $60.00.

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

Global Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Friday, May 9th were paid a dividend of $0.745 per share. This represents a $2.98 annualized dividend and a dividend yield of 5.77%. This is an increase from Global Partners's previous quarterly dividend of $0.74. The ex-dividend date was Friday, May 9th. Global Partners's dividend payout ratio is 94.60%.

Hedge Funds Weigh In On Global Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Global Partners by 53.8% in the fourth quarter. JPMorgan Chase & Co. now owns 108,357 shares of the energy company's stock worth $5,044,000 after buying an additional 37,893 shares in the last quarter. Raymond James Financial Inc. bought a new position in Global Partners in the fourth quarter worth about $6,510,000. Cerity Partners LLC bought a new position in shares of Global Partners during the fourth quarter valued at approximately $528,000. XTX Topco Ltd bought a new position in shares of Global Partners during the fourth quarter valued at approximately $302,000. Finally, Focus Partners Wealth bought a new position in shares of Global Partners during the fourth quarter valued at approximately $1,029,000. 38.12% of the stock is owned by institutional investors.

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.