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Global Partners LP Message Board

  • jillbowels jillbowels Oct 6, 2011 9:35 AM Flag

    Earnings estimates keep going down

    From $1.16 to 55 cents this year and $1.53 to $1.14 next year.I doubt the $1.14 for next year is even attainable.I can`t see the distribution staying this high either.Eventually you are going to have to pay the piper.

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    • share price keeps dropping because they lost money last quarter, and as a former Shell gas station owner I can tell you that gas station margins are terrible.

      If you look closely at Global Partners its dividend coverage 5-6 years ago was outstanding: 1.8x but that has dropped every year to now where they are at around 1.0x coverage. There is no reason to think that the coverage of the dividend which has been in constant decline year after year will not drop further which means a dividend cut in 2012. When that happens these shares probably drop further.

    • No - GLP's stations are in New England - MA, NH and RI. I live in NY. My comment was just on lower gas prices resulting in higher volumes. Nothing specific to GLP.

      I will say that I am amazed that GLP's price has continued to drop, even as other MLPs have stopped dropping and begun to rise a bit. No great volume, so it isn't necessarily people dumping their units, but there just doesn't seem to be much demand. GLP is getting incredibly cheap.

    • jrad52- What state do you live in and were the 2 staions owned by GLP? Just curious. Thanks.

    • Normally I'd agree. But with oil prices dropping, doesn't that usually help GLP? More volume sold, less financing costs. And maybe some opportunitistic buys?

      I said I would buy back in sround $ 20, but even $ 16.90 isn't quite tempting enough just now.

16.00+0.15(+0.95%)Oct 26 4:02 PMEDT