Global Partners (NYSE:GLP) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Global Partners (NYSE:GLP) posted its quarterly earnings data on Friday. The energy company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.28, Zacks reports. Global Partners had a return on equity of 22.07% and a net margin of 0.82%.

Global Partners Stock Performance

NYSE:GLP traded up $0.47 during mid-day trading on Friday, hitting $57.04. 48,144 shares of the company traded hands, compared to its average volume of 101,146. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 2.41. The stock’s fifty day moving average price is $52.64 and its 200-day moving average price is $49.10. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 17.23 and a beta of 1.47. Global Partners has a one year low of $37.00 and a one year high of $60.00.

Global Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 10th were given a dividend of $0.74 per share. The ex-dividend date was Monday, February 10th. This is an increase from Global Partners’s previous quarterly dividend of $0.73. This represents a $2.96 annualized dividend and a yield of 5.19%. Global Partners’s payout ratio is 89.43%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus raised their price objective on shares of Global Partners from $51.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

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.