Global Partners (NYSE:GLP) Earns Buy Rating from Analysts at began coverage on shares of Global Partners (NYSE:GLPGet 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:GLPGet 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

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for Global Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Partners and related companies with's FREE daily email newsletter.