Global Partners (NYSE:GLP) Announces Earnings Results

Global Partners (NYSE:GLP) posted its quarterly earnings results on Friday. The energy company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.28, Zacks reports. Global Partners had a return on equity of 22.07% and a net margin of 0.82%.

Global Partners Trading Up 0.8 %

NYSE GLP traded up $0.47 during trading hours on Friday, hitting $57.04. 48,144 shares of the company were exchanged, compared to its average volume of 101,146. The stock has a market cap of $1.94 billion, a PE ratio of 17.23 and a beta of 1.47. Global Partners has a 52 week low of $37.00 and a 52 week high of $60.00. The stock has a 50-day moving average price of $52.64 and a 200 day moving average price of $49.10. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Monday, February 10th were issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.19%. This is a boost from Global Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Monday, February 10th. Global Partners’s payout ratio is 89.43%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their target price on Global Partners from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th.

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.