Global Partners LP (GLP) To Go Ex-Dividend on February 9th

Global Partners LP (NYSE:GLP) announced a quarterly dividend on Friday, January 30th. Shareholders of record on Monday, February 9th will be given a dividend of 0.76 per share by the energy company on Friday, February 13th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, February 9th. This is a 0.7% increase from Global Partners’s previous quarterly dividend of $0.76.

Global Partners has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Global Partners has a payout ratio of 100.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Partners to earn $2.51 per share next year, which means the company may not be able to cover its $3.04 annual dividend with an expected future payout ratio of 121.1%.

Global Partners Stock Down 0.7%

Shares of NYSE:GLP opened at $46.97 on Friday. The business has a 50-day moving average price of $44.02 and a 200 day moving average price of $46.67. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 22.47 and a beta of 1.00. Global Partners has a 12-month low of $39.58 and a 12-month high of $60.00.

Global Partners (NYSE:GLP) last announced its earnings results on Friday, November 7th. The energy company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.43). The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Global Partners had a return on equity of 15.54% and a net margin of 0.53%. Sell-side analysts expect that Global Partners will post 2.13 EPS for the current year.

About Global Partners

Global Partners LP is a publicly traded master limited partnership engaged in the wholesale distribution and retail marketing of petroleum products. The company sources refined petroleum products from major refineries and suppliers and transports them through an integrated network of pipelines, terminals and storage facilities. Global Partners focuses on delivering fuel and related services to commercial, industrial and residential customers, positioning itself as a key midstream and downstream energy operator in its core markets.

Through its extensive terminal network in the northeastern United States and eastern Canada, Global Partners supplies gasoline, diesel, home heating oil, kerosene, propane and biofuels to a broad customer base.