Global Partners LP (NYSE:GLP) COO Sells $118,661.70 in Stock

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

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 value of $594.00.

Global Partners Trading Up 1.3 %

Shares of NYSE GLP opened at $54.13 on Friday. The firm has a 50 day moving average price of $55.36 and a two-hundred day moving average price of $50.85. The stock has a market cap of $1.84 billion, a P/E ratio of 16.35 and a beta of 1.53. 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 2.41, a quick ratio of 0.64 and a current ratio of 1.14.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.47%. This is an increase from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. Global Partners’s dividend payout ratio is presently 122.31%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its stake in shares of Global Partners by 4,555.0% in the fourth 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 period. Raymond James Financial Inc. acquired a new stake in Global Partners during the 4th quarter valued at approximately $6,510,000. JPMorgan Chase & Co. raised its holdings in Global Partners by 9,171.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 70,464 shares of the energy company’s stock worth $3,281,000 after purchasing an additional 69,704 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Global Partners by 4.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,609,112 shares of the energy company’s stock worth $74,904,000 after purchasing an additional 64,901 shares during the period. Finally, NBW Capital LLC bought a new stake in shares of Global Partners in the 4th quarter valued at $2,431,000. 38.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered Global Partners from a “buy” rating to a “hold” rating and lifted 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.