Global Partners LP (NYSE:GLP) Increases Dividend to $0.74 Per Share

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors 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 yield of 5.07%. The ex-dividend date 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

Shares of NYSE GLP opened at $58.40 on Friday. Global Partners has a one year low of $37.00 and a one year high of $59.03. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.14 and a quick ratio of 0.64. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 17.64 and a beta of 1.47. The stock’s fifty day moving average price is $51.37 and its two-hundred day moving average price is $47.26.

Global Partners (NYSE:GLP) last released its quarterly earnings results on Friday, November 8th. The energy company reported $1.17 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 business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company posted $0.60 earnings per share. On average, equities analysts forecast that Global Partners will post 2.13 EPS for the current year.

Analysts Set New Price Targets

Separately, Stifel Nicolaus increased their target price on shares of 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.