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

Capital Product Partners L.P. (NASDAQ:CPLP – Get Rating) announced a quarterly dividend on Friday, April 29th, investing.com reports. Shareholders of record on Friday, May 6th will be paid a dividend of 0.15 per share by the shipping company on Thursday, May 12th. This represents a $0.60 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 5th.

Capital Product Partners has decreased its dividend payment by an average of 43.7% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Capital Product Partners has a payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Capital Product Partners to earn $4.51 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 13.3%.

Shares of Capital Product Partners stock opened at $15.15 on Friday. Capital Product Partners has a 1 year low of $10.60 and a 1 year high of $19.65. The firm has a market cap of $287.43 million, a PE ratio of 2.96 and a beta of 0.97. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.29 and a quick ratio of 0.25. The company has a 50 day simple moving average of $16.13 and a two-hundred day simple moving average of $15.57.

Capital Product Partners (NASDAQ:CPLP – Get Rating) last announced its earnings results on Wednesday, February 2nd. The shipping company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.43. Capital Product Partners had a net margin of 52.58% and a return on equity of 11.32%. The business had revenue of $60.35 million during the quarter, compared to analyst estimates of $54.42 million. During the same period in the previous year, the business posted $0.38 earnings per share. As a group, research analysts anticipate that Capital Product Partners will post 4.12 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its stake in shares of Capital Product Partners by 19.7% in the second quarter. Morgan Stanley now owns 506,282 shares of the shipping company’s stock worth $6,177,000 after buying an additional 83,262 shares during the period. Walleye Trading LLC increased its stake in shares of Capital Product Partners by 40.3% in the fourth quarter. Walleye Trading LLC now owns 45,303 shares of the shipping company’s stock worth $730,000 after buying an additional 13,007 shares during the period. LPL Financial LLC increased its stake in shares of Capital Product Partners by 5.6% in the fourth quarter. LPL Financial LLC now owns 25,610 shares of the shipping company’s stock worth $413,000 after buying an additional 1,355 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of Capital Product Partners by 28.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 21,500 shares of the shipping company’s stock worth $346,000 after buying an additional 4,799 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Capital Product Partners by 128.9% in the fourth quarter. Wells Fargo & Company MN now owns 3,632 shares of the shipping company’s stock worth $58,000 after buying an additional 2,045 shares during the period. 42.01% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on CPLP. StockNews.com assumed coverage on shares of Capital Product Partners in a research report on Thursday, March 31st. They set a “hold” rating for the company. TheStreet upgraded shares of Capital Product Partners from a “c+” rating to a “b-” rating in a report on Monday. Finally, Zacks Investment Research lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 27th.

Capital Product Partners Company Profile (Get Rating)

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. Its vessels transports a range of dry cargoes and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters. As of April 26, 2021, the company owned 17 vessels, including thirteen Neo-Panamax container vessels, three Panamax container vessels, and one Capesize bulk carrier.

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