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Global Partners (GLP) Soars 6.8%: Is Further Upside Left in the Stock?
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Global Partners LP (GLP - Free Report) shares soared 6.8% in the last trading session to close at $56.69. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.1% gain over the past four weeks.
The units’ surge can be attributed to strategic development and rising fourth-quarter dividend. The company recently revealed its expansion into electric vehicle (EV) charging infrastructure, adding six new EV chargers at two convenience store locations in New Hampshire. This initiative represents a significant growth strategy, supported by nearly half a million dollars in funding from the New Hampshire Volkswagen Environmental Mitigation Trust DCFC Infrastructure program. In addition to this growth initiative, the company's board of directors recently declared a quarterly cash dividend of 74 cents per unit to its common unitholders of record on Feb 10, 2025. The payout, which represents a 1.4% sequential increase, will be made on Feb 14, 2025. This combination of expansion efforts and a growing dividend likely fueled investor optimism, contributing to the units’ recent upward momentum.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -83%. Revenues are expected to be $5.8 billion, up 31.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Global Partners, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLP going forward to see if this recent jump can turn into more strength down the road.
Global Partners is part of the Zacks Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. Targa Resources, Inc. (TRGP - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $205.21. TRGP has returned 13.7% in the past month.
For Targa Resources, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.90. This represents a change of +54.5% from what the company reported a year ago. Targa Resources currently has a Zacks Rank of #3 (Hold).
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Global Partners (GLP) Soars 6.8%: Is Further Upside Left in the Stock?
Global Partners LP (GLP - Free Report) shares soared 6.8% in the last trading session to close at $56.69. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.1% gain over the past four weeks.
The units’ surge can be attributed to strategic development and rising fourth-quarter dividend. The company recently revealed its expansion into electric vehicle (EV) charging infrastructure, adding six new EV chargers at two convenience store locations in New Hampshire. This initiative represents a significant growth strategy, supported by nearly half a million dollars in funding from the New Hampshire Volkswagen Environmental Mitigation Trust DCFC Infrastructure program. In addition to this growth initiative, the company's board of directors recently declared a quarterly cash dividend of 74 cents per unit to its common unitholders of record on Feb 10, 2025. The payout, which represents a 1.4% sequential increase, will be made on Feb 14, 2025. This combination of expansion efforts and a growing dividend likely fueled investor optimism, contributing to the units’ recent upward momentum.
This company is expected to post quarterly earnings of $0.24 per share in its upcoming report, which represents a year-over-year change of -83%. Revenues are expected to be $5.8 billion, up 31.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Global Partners, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GLP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Global Partners is part of the Zacks Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. Targa Resources, Inc. (TRGP - Free Report) , another stock in the same industry, closed the last trading session 1.2% higher at $205.21. TRGP has returned 13.7% in the past month.
For Targa Resources, the consensus EPS estimate for the upcoming report has changed -0.5% over the past month to $1.90. This represents a change of +54.5% from what the company reported a year ago. Targa Resources currently has a Zacks Rank of #3 (Hold).