Global Partners (NYSE:GLP) Issues Earnings Results

Global Partners (NYSE:GLP) issued its quarterly earnings data on Friday. The energy company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.28, Zacks reports. Global Partners had a net margin of 0.82% and a return on equity of 22.07%.

Global Partners Price Performance

GLP traded up $0.26 during midday trading on Friday, hitting $56.83. The company had a trading volume of 41,711 shares, compared to its average volume of 100,961. Global Partners has a twelve month low of $37.00 and a twelve month high of $60.00. The company has a market capitalization of $1.93 billion, a PE ratio of 17.13 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. The firm’s 50-day simple moving average is $52.64 and its 200-day simple moving average is $49.10.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Monday, February 10th were issued a dividend of $0.74 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.21%. This is a positive change from Global Partners’s previous quarterly dividend of $0.73. Global Partners’s dividend payout ratio is currently 89.43%.

Analyst Ratings Changes

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