Capital Product Partners L.P. (NASDAQ:CPLP) Plans $0.15 Quarterly Dividend

Capital Product Partners L.P. (NASDAQ:CPLP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Tuesday, May 7th will be given a dividend of 0.15 per share by the shipping company on Tuesday, May 14th. This represents a $0.60 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, May 6th.

Capital Product Partners has decreased its dividend payment by an average of 12.6% per year over the last three years. Capital Product Partners has a payout ratio of 33.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Capital Product Partners to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.5%.

Capital Product Partners Stock Up 2.8 %

Shares of NASDAQ:CPLP traded up $0.45 during midday trading on Friday, reaching $16.65. 17,519 shares of the company were exchanged, compared to its average volume of 20,999. The firm has a market cap of $342.99 million, a PE ratio of 7.67 and a beta of 0.86. Capital Product Partners has a fifty-two week low of $12.02 and a fifty-two week high of $18.85. The stock has a fifty day simple moving average of $17.35 and a two-hundred day simple moving average of $15.90. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 2.27.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The firm had revenue of $92.50 million during the quarter, compared to the consensus estimate of $93.32 million. Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. During the same period last year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Capital Product Partners will post 1.62 earnings per share for the current year.

Analysts Set New Price Targets

CPLP has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, April 19th. B. Riley upped their price objective on shares of Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Capital Product Partners has an average rating of “Moderate Buy” and an average target price of $20.67.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.