Global Partners LP (GLP) to Issue Quarterly Dividend of $0.71 on May 15th

Global Partners LP (NYSE:GLP) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders 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 yield of 5.95%. 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 payment by an average of 12.2% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Global Partners has a payout ratio of 63.7% 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 $2.84 annual dividend with an expected future payout ratio of 63.7%.

Global Partners Stock Performance

GLP stock opened at $47.75 on Monday. Global Partners has a 1 year low of $27.07 and a 1 year high of $49.50. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.70 and a beta of 1.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.71 and a current ratio of 1.12. The stock’s fifty day moving average is $46.31 and its two-hundred day moving average is $41.95.

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

Analysts Set New Price Targets

Separately, StockNews.com lowered Global Partners from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd.

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. The company operates through three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.