Global Partners (NYSE:GLP) Earns Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Global Partners (NYSE:GLP – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a buy rating on the energy company’s stock.

Global Partners Stock Down 2.3 %

Shares of Global Partners stock opened at $29.41 on Thursday. The business’s 50 day simple moving average is $34.67 and its 200 day simple moving average is $31.82. Global Partners has a 52-week low of $20.23 and a 52-week high of $39.24. The firm has a market cap of $995.82 million, a PE ratio of 2.93 and a beta of 1.31. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.62 and a current ratio of 1.20.

Global Partners (NYSE:GLP – Get Rating) last announced its earnings results on Monday, February 27th. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.14. Global Partners had a return on equity of 52.42% and a net margin of 1.92%. The business had revenue of $4.43 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter last year, the firm earned $0.44 EPS. On average, analysts predict that Global Partners will post 2.95 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Shareholders of record on Wednesday, February 8th were paid a $1.572 dividend. This represents a $6.29 dividend on an annualized basis and a yield of 21.38%. This is an increase from Global Partners’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, February 7th. Global Partners’s dividend payout ratio (DPR) is currently 25.32%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in Global Partners in the fourth quarter valued at approximately $28,000. Financial Management Professionals Inc. bought a new position in shares of Global Partners during the 4th quarter worth approximately $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Global Partners during the 4th quarter worth approximately $34,000. Dorsey Wright & Associates bought a new stake in Global Partners in the 4th quarter valued at $36,000. Finally, Credit Suisse AG acquired a new position in Global Partners in the 2nd quarter valued at $67,000. 28.40% of the stock is currently owned by institutional investors.

About Global Partners

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Global Partners LP engages in purchasing, selling, storing, and the logistics of transporting petroleum and related products. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors.