Global Partners LP (GLP) To Go Ex-Dividend on May 8th

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Thursday, May 9th will be paid a dividend of 0.71 per share by the energy company on Wednesday, May 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a boost from Global Partners’s previous quarterly dividend of $0.70.

Global Partners has increased its dividend by an average of 12.2% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Global Partners has a payout ratio of 62.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Global Partners to earn $4.46 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 62.8%.

Global Partners Price Performance

Shares of NYSE GLP opened at $47.40 on Friday. Global Partners has a twelve month low of $27.07 and a twelve month high of $49.50. The stock’s 50 day moving average price is $46.27 and its 200-day moving average price is $41.22. The company has a market capitalization of $1.60 billion, a PE ratio of 12.61 and a beta of 1.35. The company has a quick ratio of 0.71, a current ratio of 1.12 and a debt-to-equity ratio of 2.02.

Global Partners (NYSE:GLP) last announced its earnings results on Wednesday, February 28th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.45. Global Partners had a return on equity of 23.91% and a net margin of 0.92%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.39 billion. On average, equities analysts anticipate that Global Partners will post 3.53 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.