Global Partners LP (NYSE:GLP) COO Mark Romaine Sells 2,195 Shares

Global Partners LP (NYSE:GLP) COO Mark Romaine sold 2,195 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $54.06, for a total value of $118,661.70. Following the sale, the chief operating officer now owns 156,198 shares in the company, valued at approximately $8,444,063.88. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, March 24th, Mark Romaine sold 11 shares of Global Partners stock. The stock was sold at an average price of $54.00, for a total transaction of $594.00.

Global Partners Trading Up 2.0 %

NYSE GLP opened at $53.75 on Wednesday. Global Partners LP has a 12 month low of $37.00 and a 12 month high of $60.00. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. The firm has a market capitalization of $1.83 billion, a PE ratio of 16.24 and a beta of 1.53. The business’s 50-day moving average price is $55.26 and its two-hundred day moving average price is $50.81.

Global Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were issued a dividend of $0.74 per share. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 annualized dividend and a yield of 5.51%. Global Partners’s dividend payout ratio (DPR) is presently 122.31%.

Institutional Investors Weigh In On Global Partners

Institutional investors have recently modified their holdings of the company. Infrastructure Capital Advisors LLC raised its stake in Global Partners by 57.7% during the third quarter. Infrastructure Capital Advisors LLC now owns 141,147 shares of the energy company’s stock worth $6,572,000 after buying an additional 51,630 shares during the last quarter. Stifel Financial Corp raised its position in shares of Global Partners by 7.3% in the 3rd quarter. Stifel Financial Corp now owns 31,750 shares of the energy company’s stock worth $1,478,000 after acquiring an additional 2,166 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock valued at $3,281,000 after purchasing an additional 69,704 shares in the last quarter. Albert D Mason Inc. boosted its position in shares of Global Partners by 11.8% during the 4th quarter. Albert D Mason Inc. now owns 5,440 shares of the energy company’s stock valued at $253,000 after purchasing an additional 575 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Global Partners during the fourth quarter worth approximately $1,536,000. 38.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus downgraded shares of Global Partners from a “buy” rating to a “hold” rating and raised their price target for the company from $54.00 to $56.00 in a research note on Tuesday, March 4th.

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.