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

Capital Product Partners L.P. (NASDAQ:CPLP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, May 6th.

Capital Product Partners has decreased its dividend by an average of 12.6% annually over the last three years. Capital Product Partners has a payout ratio of 35.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Capital Product Partners to earn $1.67 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 35.9%.

Capital Product Partners Stock Up 2.0 %

Shares of CPLP opened at $16.70 on Friday. The stock has a market capitalization of $344.02 million, a price-to-earnings ratio of 7.29 and a beta of 0.87. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.20 and a current ratio of 1.23. Capital Product Partners has a one year low of $12.02 and a one year high of $18.85. The stock has a 50 day moving average price of $17.18 and a 200 day moving average price of $15.97.

Capital Product Partners (NASDAQ:CPLP) last released 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 business had revenue of $92.50 million during the quarter, compared to analyst estimates of $93.32 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 7.02%. During the same quarter in the prior year, the company posted $1.03 earnings per share. Equities research analysts forecast that Capital Product Partners will post 1.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group downgraded 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. Stifel Nicolaus cut their target price on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, B. Riley raised their price target on shares of Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Capital Product Partners currently has an average rating of “Moderate Buy” and a consensus price target of $20.67.

About Capital Product Partners

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.