Global Partners LP (GLP) to Issue Quarterly Dividend of $0.74 on February 14th

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 5.07%. 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% per year over the last three years.

Global Partners Stock Performance

NYSE GLP opened at $58.40 on Friday. The firm has a market capitalization of $1.99 billion, a P/E ratio of 17.64 and a beta of 1.47. 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’s fifty day moving average price is $51.37 and its two-hundred day moving average price is $47.26. Global Partners has a 1 year low of $37.00 and a 1 year high of $59.03.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Friday, November 8th. The energy company reported $1.17 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $5.88 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. As a group, research analysts anticipate that Global Partners will post 2.13 EPS for the current year.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their target price on Global Partners from $51.00 to $54.00 and gave the stock 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.