Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 7,119 Shares

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 7,119 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $51.28, for a total value of $365,062.32. Following the transaction, the chief operating officer directly owned 150,412 shares in the company, valued at $7,713,127.36. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, July 16th, Mark Romaine sold 1,881 shares of Global Partners stock. The stock was sold at an average price of $51.68, for a total transaction of $97,210.08.
• 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.
• 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 value of $120,631.73.

Global Partners Stock Down 1.0%

Shares of Global Partners stock opened at $50.87 on Friday. The stock has a 50-day simple moving average of $52.16 and a 200-day simple moving average of $52.48. Global Partners LP has a 52-week low of $37.00 and a 52-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. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 16.15 and a beta of 1.03.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Thursday, May 8th. The energy company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.39. The company had revenue of $4.59 billion during the quarter, compared to analyst estimates of $5.64 billion. Global Partners had a return on equity of 21.10% and a net margin of 0.76%. On average, equities research analysts expect 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. Shareholders of record on Friday, May 9th were paid a $0.745 dividend. The ex-dividend date was Friday, May 9th. This represents a $2.98 dividend on an annualized basis and a yield of 5.86%. This is a positive change from Global Partners’s previous quarterly dividend of $0.74. Global Partners’s payout ratio is currently 94.60%.

Hedge Funds Weigh In On Global Partners

Several large investors have recently made changes to their positions in GLP. Farther Finance Advisors LLC lifted its stake in Global Partners by 28,291.8% in the second quarter. Farther Finance Advisors LLC now owns 17,319 shares of the energy company’s stock valued at $913,000 after buying an additional 17,258 shares during the period. Kingstone Capital Partners Texas LLC acquired a new position in shares of Global Partners during the 2nd quarter worth approximately $178,723,000. Wealth Enhancement Advisory Services LLC acquired a new position in Global Partners in the 2nd quarter valued at $408,000. Gilman Hill Asset Management LLC grew its holdings in Global Partners by 15.4% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 36,307 shares of the energy company’s stock valued at $1,914,000 after buying an additional 4,846 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Global Partners by 1.6% during the 2nd quarter. Pallas Capital Advisors LLC now owns 1,627,973 shares of the energy company’s stock worth $85,843,000 after purchasing an additional 26,069 shares in 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.