Global Partners LP

Global Partners LP (GLP - Snapshot Report) isn't showing any sign of slowing down after posting big gains over the last 6 months, recently hitting a new 52-week and all-time high.

Company Description

Global Partners LP, through its subsidiaries, engages in the wholesale and commercial distribution of refined petroleum products and natural gas in the United States and internationally. The company has a market cap of $338 million.

Shares of SWM are up big over the last 6 months as energy prices have shot higher with the market. The company's better than expected second-quarter results, reported on August 6, also provided an extra boost.

Second-Quarter Results

Earnings came in at 7 cents per share, 5 cents ahead of the Zacks Consensus Estimate. The company has beat in each of the last 3 quarters. Earnings before interest, taxes, depreciation and amortization were up 26% to $8.6 million while distributable cash flows up 46% to $3.3 million.

Estimates Are Up

Estimates have been trending higher for the last few months, with the current year up 14 cents to $2.56 per share. The next-year estimate is a bit anemic, projecting 4% earnings growth, but the energy sector continues to be volatile, so that number could fluctuate.

Valuation

In spite of the big gains, shares of GLP still have value, trading at 10X projected current-year earnings.

The Chart

Shares of GLP have been rallying since bottoming out just above $8 in early March. More recently, shares hit a new 52-week high after breaking above some short-term resistance at $26. Take a look below.

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