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

Capital Product Partners L.P. (NASDAQ:CPLP) announced a quarterly dividend on Thursday, April 25th, Zacks reports. Investors 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 3.60%. 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. 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 Trading Up 2.8 %

NASDAQ CPLP traded up $0.45 during trading on Friday, reaching $16.65. 17,519 shares of the stock traded hands, compared to its average volume of 20,999. The firm has a market cap of $342.99 million, a price-to-earnings ratio of 7.67 and a beta of 0.86. The stock’s 50-day moving average price is $17.35 and its 200 day moving average price is $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 has a fifty-two week low of $12.02 and a fifty-two week high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.04). The firm had revenue of $92.50 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $1.03 EPS. Analysts predict that Capital Product Partners will post 1.62 EPS for the current year.

Analysts Set New Price Targets

CPLP has been the subject of several research analyst reports. Stifel Nicolaus reduced their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, April 19th. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $18.00 in a report on Tuesday, February 27th. Finally, B. Riley increased their target price on shares of Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.