Global Partners LP (NYSE:GLP) Raises Dividend to $0.74 Per Share

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Thursday, January 30th,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 dividend on an annualized basis 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 increased its dividend payment by an average of 7.9% annually over the last three years.

Global Partners Price Performance

Global Partners stock traded up $1.60 during midday trading on Thursday, reaching $54.70. 129,142 shares of the company were exchanged, compared to its average volume of 74,111. The firm’s 50-day simple moving average is $51.02 and its 200-day simple moving average is $46.65. Global Partners has a 1 year low of $37.00 and a 1 year high of $58.76. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 16.52 and a beta of 1.47. 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 (NYSE:GLP) last issued its quarterly earnings results on Friday, November 8th. The energy company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.40). Global Partners had a return on equity of 22.07% and a net margin of 0.82%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same quarter last year, the firm earned $0.60 earnings per share. On average, analysts anticipate that Global Partners will post 2.13 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised their price objective on Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a report 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.