Global Partners LP (NYSE:GLP) Increases Dividend to $0.76 Per Share

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Friday, January 30th. Investors of record on Monday, February 9th will be paid a dividend of 0.76 per share by the energy company on Friday, February 13th. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Monday, February 9th. This is a 0.7% increase from Global Partners’s previous quarterly dividend of $0.76.

Global Partners has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Global Partners has a dividend payout ratio of 99.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Global Partners to earn $2.51 per share next year, which means the company may not be able to cover its $3.02 annual dividend with an expected future payout ratio of 120.3%.

Global Partners Trading Down 2.1%

GLP stock opened at $46.82 on Friday. Global Partners has a 12-month low of $39.58 and a 12-month high of $60.00. The business’s 50-day moving average is $43.64 and its 200 day moving average is $46.81. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 2.75. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 22.40 and a beta of 0.95.

Global Partners (NYSE:GLP) last announced its earnings results on Friday, November 7th. The energy company reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.43). The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $7.21 billion. Global Partners had a net margin of 0.53% and a return on equity of 15.54%. On average, sell-side analysts anticipate that Global Partners will post 2.13 EPS for the current fiscal year.

Global Partners Company Profile

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.