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

Capital Product Partners L.P. (NASDAQ:CPLP - Get Free Report) 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 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 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 Price Performance

NASDAQ:CPLP traded up $0.45 during trading hours on Friday, hitting $16.65. 17,519 shares of the stock were exchanged, compared to its average volume of 20,999. Capital Product Partners has a 52-week low of $12.02 and a 52-week high of $18.85. The firm's fifty day moving average price is $17.35 and its 200 day moving average price is $15.91. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. The company has a market cap of $342.99 million, a P/E ratio of 7.67 and a beta of 0.86.

Capital Product Partners (NASDAQ:CPLP - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.04). The firm had revenue of $92.50 million for the quarter, compared to analysts' expectations of $93.32 million. Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. During the same quarter last year, the firm posted $1.03 earnings per share. As a group, equities research analysts anticipate that Capital Product Partners will post 1.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. B. Riley upped their price target on Capital Product Partners from $19.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, February 5th. Stifel Nicolaus dropped their price target on Capital Product Partners from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, April 19th. Finally, Jefferies Financial Group lowered Capital Product Partners from a "buy" rating to a "hold" rating and dropped their price target for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.