Global Partners LP Reports Operating Results (10-K)
Global Partners Lp has a market cap of $384.5 million; its shares were traded at around $24.66 with a P/E ratio of 12.7 and P/S ratio of 0.1. The dividend yield of Global Partners Lp stocks is 8.2%. Global Partners Lp had an annual average earning growth of 1.8% over the past 5 years.
Highlight of Business Operations: The aggregate market value of common units held by non-affiliates of the registrant (treating directors and executive officers of the registrant's general partner and holders of 10% or more of the common units outstanding, for this purpose, as if they were affiliates of the registrant) as of June 30, 2010 was approximately $188,854,670 based on a price per common unit of $22.49, the price at which the common units were last sold as reported on the New York Stock Exchange on such date.
We own, control or have access to one of the largest terminal networks of refined petroleum products in Massachusetts, Maine, Connecticut, Vermont, New Hampshire, Rhode Island, New York, New Jersey and Pennsylvania (collectively, the "Northeast"). We are one of the largest wholesale distributors of gasoline, distillates (such as home heating oil, diesel and kerosene), residual oil and renewable fuels (such as ethanol) to wholesalers, retailers and commercial customers in the New England states and New York. We own and supply fuel to 190 Mobil-branded retail gas stations (38 leased properties and 152 fee properties) in New England and supply Mobil-branded fuel to an additional 31 independently-owned stations. In 2010, we sold approximately $7.8 billion of refined petroleum products and small amounts of natural gas and renewable fuels. In addition, we had other revenues of approximately $16.1 million, primarily from convenience store sales at our directly operated stores and gas station rental income. In 2010, we owned, leased or maintained dedicated storage facilities at 24 refined petroleum product bulk terminals, each with the capacity of more than 50,000 barrels, including 23 located throughout the Northeast, that are supplied primarily by marine transport, pipeline, rail or truck and that collectively have approximately 10.2 million barrels of storage capacity. We also have throughput, exchange or other supply agreements at more than 50 bulk terminals and inland storage facilities.
Public Offerings of Common UnitsOn March 19, 2010, we completed a public offering of 3,910,000 common units at a price of $22.75 per common unit. Net proceeds were approximately $84.6 million, after deducting underwriting fees and offering expenses. On November 16, 2010, we completed a public offering of 1,955,000 common units at a price of $25.57 per common unit. Net proceeds were approximately $47.7 million, after deducting underwriting fees and offering expenses. On February 8, 2011, we completed a public offering of 2,645,000 common units at a price of $27.60 per common unit.
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