Wall Street brokerages expect that Global Partners LP (NYSE:GLP) will post $0.24 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Global Partners’ earnings. The highest EPS estimate is $0.33 and the lowest is $0.16. Global Partners posted earnings of $0.03 per share during the same quarter last year, which indicates a positive year over year growth rate of 700%. The business is scheduled to report its next quarterly earnings report on Monday, November 6th.

According to Zacks, analysts expect that Global Partners will report full-year earnings of $0.89 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $1.19. For the next financial year, analysts expect that the firm will post earnings of $0.45 per share, with EPS estimates ranging from $0.11 to $0.64. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Global Partners.

Global Partners (NYSE:GLP) last posted its earnings results on Wednesday, August 9th. The energy company reported $0.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. Global Partners had a negative net margin of 1.83% and a positive return on equity of 0.21%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Global Partners’s revenue for the quarter was down 2.6% compared to the same quarter last year.

GLP has been the topic of a number of research analyst reports. BidaskClub raised Global Partners from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research raised Global Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Monday, July 17th. Stifel Nicolaus reissued a “buy” rating and issued a $21.00 price target on shares of Global Partners in a research note on Friday, July 28th. Finally, Janney Montgomery Scott initiated coverage on Global Partners in a research note on Friday, June 23rd. They issued a “neutral” rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.40.

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Global Partners (GLP) traded down 3.47% on Friday, reaching $16.70. 17,884 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $17.29 and a 200-day moving average price of $18.40. Global Partners has a 1-year low of $14.53 and a 1-year high of $21.95. The company’s market capitalization is $560.35 million.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Wednesday, August 9th were paid a $0.463 dividend. This represents a $1.85 annualized dividend and a dividend yield of 11.09%. The ex-dividend date was Monday, August 7th. Global Partners’s dividend payout ratio is currently -39.11%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in shares of Global Partners by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 17,412 shares of the energy company’s stock valued at $314,000 after purchasing an additional 154 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of Global Partners by 5.5% in the 1st quarter. Global X Management Co. LLC now owns 10,351 shares of the energy company’s stock valued at $202,000 after purchasing an additional 535 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Global Partners by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 22,001 shares of the energy company’s stock valued at $429,000 after purchasing an additional 1,000 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Global Partners by 3.9% in the 2nd quarter. California Public Employees Retirement System now owns 146,900 shares of the energy company’s stock valued at $2,652,000 after purchasing an additional 5,500 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Global Partners by 448.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,436 shares of the energy company’s stock valued at $188,000 after purchasing an additional 8,534 shares in the last quarter. 39.85% of the stock is currently owned by institutional investors and hedge funds.

About Global Partners

Global Partners LP is a midstream logistics and marketing company. It is engaged in the purchasing, selling, storing and logistics of transporting petroleum and related products, including gasoline and gasoline blendstocks, distillates, residual oil, renewable fuels, crude oil, natural gas and propane.

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