Global Partners LP (GLP) To Go Ex-Dividend on November 9th

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Monday, November 9th will be given a dividend of $0.7850 per share by the energy company on Friday, November 13th. This represents a $3.14 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Monday, November 9th. This is a 0.6% increase from Global Partners’s previous quarterly dividend of $0.78.

Global Partners has increased its dividend 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 103.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Partners to earn $3.81 per share next year, which means the company should continue to be able to cover its $3.12 annual dividend with an expected future payout ratio of 81.9%.

Global Partners Trading Up 1.5%

Shares of Global Partners stock opened at $47.99 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 2.44. The firm has a market capitalization of $1.63 billion, a PE ratio of 9.77 and a beta of 1.11. Global Partners has a 1 year low of $39.58 and a 1 year high of $54.29. The firm’s 50 day moving average is $49.53 and its 200 day moving average is $47.95.

Global Partners (NYSE:GLP) last issued its quarterly earnings results on Friday, August 7th. The energy company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.62. Global Partners had a return on equity of 30.87% and a net margin of 0.91%. The firm had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $7.51 billion. Equities research analysts forecast that Global Partners will post 6.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Global Partners from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 28th. Wall Street Zen upgraded Global Partners from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Finally, Zacks Research lowered Global Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.00.

About Global Partners

Global Partners LP (NYSE: GLP) is an integrated energy company that owns, supplies, stores, transports and markets energy products. The company’s activities include the wholesale distribution of gasoline, diesel, distillates, residual oil, renewable fuels and other petroleum products, as well as the terminaling and storage of these products.

Global Partners serves customers primarily across the northeastern and mid-Atlantic United States. Its wholesale operations supply gasoline stations, commercial and industrial users, utilities, distributors and other energy customers.