Mitsubishi UFJ Financial Group Weighs in on Global Partners LP’s Q4 2020 Earnings (NYSE:GLP)

Global Partners LP (NYSE:GLP) – Equities researchers at Mitsubishi UFJ Financial Group lifted their Q4 2020 EPS estimates for Global Partners in a note issued to investors on Thursday, August 8th. Mitsubishi UFJ Financial Group analyst B. Blaschke now expects that the energy company will post earnings per share of $0.11 for the quarter, up from their previous forecast of $0.09.

Global Partners (NYSE:GLP) last announced its earnings results on Thursday, August 8th. The energy company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.28. Global Partners had a net margin of 0.45% and a return on equity of 14.38%. The business had revenue of $3.51 billion for the quarter, compared to analyst estimates of $2.98 billion.

Several other analysts have also issued reports on GLP. Zacks Investment Research lowered shares of Global Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine downgraded shares of Global Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Barclays downgraded shares of Global Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $19.00 to $18.00 in a research note on Tuesday, April 16th.

Shares of NYSE GLP opened at $19.84 on Monday. The firm has a 50-day moving average of $20.03. Global Partners has a 52-week low of $13.63 and a 52-week high of $21.62. The firm has a market capitalization of $672.52 million, a price-to-earnings ratio of 11.47 and a beta of 0.87. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 3.53.

Several large investors have recently bought and sold shares of GLP. Raymond James & Associates grew its stake in Global Partners by 4.3% in the 4th quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after acquiring an additional 550 shares in the last quarter. Albert D Mason Inc. grew its stake in Global Partners by 45.3% in the 1st quarter. Albert D Mason Inc. now owns 49,915 shares of the energy company’s stock worth $981,000 after acquiring an additional 15,555 shares in the last quarter. Moors & Cabot Inc. grew its stake in Global Partners by 100.0% in the 1st quarter. Moors & Cabot Inc. now owns 21,976 shares of the energy company’s stock worth $438,000 after acquiring an additional 10,988 shares in the last quarter. OppenheimerFunds Inc. grew its stake in Global Partners by 9.7% in the 1st quarter. OppenheimerFunds Inc. now owns 5,416,435 shares of the energy company’s stock worth $106,487,000 after acquiring an additional 480,508 shares in the last quarter. Finally, HITE Hedge Asset Management LLC bought a new position in Global Partners in the 1st quarter worth about $215,000. 40.08% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th will be paid a $0.515 dividend. This is an increase from Global Partners’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 10.38%. The ex-dividend date of this dividend is Thursday, August 8th. Global Partners’s dividend payout ratio (DPR) is currently 119.08%.

About Global Partners

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 in the New England states and New York.

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