Global Partners (NYSE:GLP) Receives New Coverage from Analysts at StockNews.com

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

Global Partners Stock Performance

GLP stock opened at $29.41 on Thursday. The stock’s 50 day simple moving average is $34.67 and its 200 day simple moving average is $31.82. The stock has a market capitalization of $995.82 million, a PE ratio of 2.93 and a beta of 1.31. The company has a current ratio of 1.20, a quick ratio of 0.62 and a debt-to-equity ratio of 1.61. Global Partners has a 12-month low of $20.23 and a 12-month high of $39.24.

Global Partners (NYSE:GLP – Get Rating) last released its quarterly earnings results on Monday, February 27th. The energy company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.14. The firm had revenue of $4.43 billion for the quarter, compared to analysts’ expectations of $4.51 billion. Global Partners had a return on equity of 52.42% and a net margin of 1.92%. During the same period in the prior year, the firm earned $0.44 EPS. As a group, research analysts forecast that Global Partners will post 2.95 earnings per share for the current fiscal year.

Global Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Wednesday, February 8th were paid a $1.572 dividend. This represents a $6.29 annualized dividend and a dividend yield of 21.38%. This is a positive change 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 is 25.32%.

Institutional Investors Weigh In On Global Partners

Several hedge funds and other institutional investors have recently modified their holdings of GLP. Fifth Third Bancorp purchased a new stake in Global Partners in the 4th quarter worth $28,000. Financial Management Professionals Inc. purchased a new stake in Global Partners in the 4th quarter worth $32,000. Armstrong Advisory Group Inc. purchased a new stake in Global Partners in the 4th quarter worth $34,000. Dorsey Wright & Associates purchased a new stake in Global Partners in the 4th quarter worth $36,000. Finally, Geneos Wealth Management Inc. increased its stake in Global Partners by 15.0% in the 4th quarter. Geneos Wealth Management Inc. now owns 2,300 shares of the energy company’s stock worth $80,000 after buying an additional 300 shares in the last quarter. 28.40% of the stock is currently owned by hedge funds and other 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.