Global Partners LP (NYSE:GLP) Declares Quarterly Dividend of $0.74

Global Partners LP (NYSE:GLP - Get Free Report) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.74 per share by the energy company on Friday, February 14th. This represents a $2.96 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Monday, February 10th. This is a positive change from Global Partners's previous quarterly dividend of $0.73.

Global Partners has increased its dividend by an average of 7.9% annually over the last three years.

Global Partners Price Performance

Shares of GLP stock traded up $1.94 on Monday, reaching $56.12. The company's stock had a trading volume of 138,051 shares, compared to its average volume of 117,117. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.95 and a beta of 1.47. The stock's fifty day simple moving average is $51.10 and its 200-day simple moving average is $46.89. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 2.41. Global Partners has a 1 year low of $37.00 and a 1 year high of $58.76.

Global Partners (NYSE:GLP - Get Free Report) last announced its earnings results on Friday, November 8th. The energy company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.40). Global Partners had a net margin of 0.82% and a return on equity of 22.07%. The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $5.88 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Analysts forecast that Global Partners will post 2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted their price objective on shares of Global Partners from $51.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th.

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.