Global Partners LP (GLP) To Go Ex-Dividend on November 10th

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Tuesday, October 28th. Shareholders of record on Monday, November 10th will be given a dividend of 0.755 per share by the energy company on Friday, November 14th. This represents a c) dividend on an annualized basis and a yield of 7.2%. The ex-dividend date is Monday, November 10th. This is a 0.7% increase from Global Partners’s previous quarterly dividend of $0.75.

Global Partners has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 5 years. Global Partners has a dividend payout ratio of 99.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Stock Down 5.1%

NYSE:GLP opened at $42.24 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of 16.25 and a beta of 0.98. The stock has a 50 day moving average of $47.85 and a 200-day moving average of $50.38. Global Partners has a 52 week low of $39.70 and a 52 week high of $60.00. The company has a current ratio of 1.18, a quick ratio of 0.70 and a debt-to-equity ratio of 2.74.

Global Partners (NYSE:GLP) last released its quarterly earnings data on Thursday, August 7th. The energy company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $5.98 billion. Global Partners had a return on equity of 17.95% and a net margin of 0.64%. Analysts predict that Global Partners will post 2.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GLP. Zacks Research lowered shares of Global Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Global Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Global Partners presently has an average rating of “Hold” and a consensus price target of $56.00.

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.