Equities research analysts expect Global Partners LP (NYSE:GLP) to report $3.14 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Global Partners’ earnings, with the lowest sales estimate coming in at $3.10 billion and the highest estimate coming in at $3.18 billion. Global Partners posted sales of $2.40 billion during the same quarter last year, which suggests a positive year over year growth rate of 30.8%. The business is expected to report its next earnings report before the market opens on Thursday, March 14th.
On average, analysts expect that Global Partners will report full-year sales of $12.36 billion for the current fiscal year, with estimates ranging from $12.00 billion to $12.57 billion. For the next year, analysts forecast that the firm will report sales of $12.30 billion, with estimates ranging from $10.31 billion to $13.54 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Global Partners.
GLP has been the topic of several research analyst reports. ValuEngine lowered Global Partners from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research lowered Global Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.75.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Friday, February 8th were paid a $0.50 dividend. This is a positive change from Global Partners’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, February 7th. This represents a $2.00 annualized dividend and a yield of 10.54%. Global Partners’s dividend payout ratio is currently 143.88%.
In other news, Director David K. Mckown sold 2,715 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $16.71, for a total transaction of $45,367.65. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 41.50% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC bought a new position in shares of Global Partners during the fourth quarter worth approximately $116,000. Tortoise Index Solutions LLC increased its stake in shares of Global Partners by 105.2% during the fourth quarter. Tortoise Index Solutions LLC now owns 9,527 shares of the energy company’s stock worth $155,000 after purchasing an additional 4,884 shares during the period. Raymond James & Associates increased its stake in shares of Global Partners by 4.3% during the fourth quarter. Raymond James & Associates now owns 13,285 shares of the energy company’s stock worth $217,000 after purchasing an additional 550 shares during the period. Fisher Asset Management LLC bought a new position in shares of Global Partners during the fourth quarter worth approximately $245,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Global Partners by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 20,090 shares of the energy company’s stock worth $327,000 after purchasing an additional 2,018 shares during the period. Institutional investors own 41.60% of the company’s stock.
Global Partners Company Profile
Global Partners LP, a midstream logistics and marketing company, distributes gasoline, distillates, residual oil, and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and New York. It operates in three segments: Wholesale, Gasoline Distribution and Station Operations, and Commercial.
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