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

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.74 per share by the energy company on Friday, February 14th. This represents a $2.96 annualized dividend and a yield of 5.41%. The ex-dividend date is Monday, February 10th. This is an increase 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 Trading Up 3.0 %

Shares of GLP stock opened at $54.70 on Friday. Global Partners has a twelve month low of $37.00 and a twelve month high of $58.76. 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 business’s 50 day moving average is $51.02 and its two-hundred day 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 announced its quarterly earnings data on Friday, November 8th. The energy company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.40). Global Partners had a net margin of 0.82% and a return on equity of 22.07%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. Equities analysts forecast that Global Partners will post 2.13 EPS for the current year.

Wall Street Analysts Forecast Growth

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