Global Partners LP (NYSE:GLP) Announces Dividend Increase – $0.74 Per Share

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be given a dividend of 0.74 per share by the energy company on Friday, February 14th. This represents a $2.96 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, February 10th. This is a positive change from Global Partners’s previous quarterly dividend of $0.73.

Global Partners has raised its dividend payment by an average of 7.9% annually over the last three years.

Global Partners Stock Up 3.0 %

Shares of GLP stock traded up $1.60 during trading hours on Thursday, reaching $54.70. The company had a trading volume of 753,366 shares, compared to its average volume of 109,035. 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 has a twelve month low of $37.00 and a twelve month high of $58.76. The stock’s fifty day simple moving average is $51.02 and its 200 day simple moving average is $46.65. The company has a market capitalization of $1.86 billion, a P/E ratio of 16.52 and a beta of 1.47.

Global Partners (NYSE:GLP) last issued its quarterly earnings data on Friday, November 8th. The energy company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.40). The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $5.88 billion. Global Partners had a net margin of 0.82% and a return on equity of 22.07%. During the same quarter last year, the business earned $0.60 EPS. As a group, sell-side analysts expect that Global Partners will post 2.13 earnings per share for the current fiscal year.

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.