StockNews.com Begins Coverage on Capital Product Partners (NASDAQ:CPLP)

StockNews.com started coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the shipping company’s stock.

Capital Product Partners Stock Up 2.1 %

CPLP stock opened at $16.77 on Wednesday. The company’s 50 day moving average is $16.57 and its two-hundred day moving average is $16.96. The stock has a market cap of $928.86 million, a P/E ratio of 7.32 and a beta of 0.87. The company has a current ratio of 1.41, a quick ratio of 1.20 and a debt-to-equity ratio of 1.48. Capital Product Partners has a twelve month low of $12.70 and a twelve month high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings data on Friday, August 2nd. The shipping company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.23. Capital Product Partners had a return on equity of 6.30% and a net margin of 18.51%. The company had revenue of $97.67 million for the quarter, compared to analyst estimates of $90.22 million. During the same period in the prior year, the company posted $0.36 EPS. Research analysts expect that Capital Product Partners will post 1.57 earnings per share for the current fiscal year.

Capital Product Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Tuesday, August 6th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.58%. The ex-dividend date was Tuesday, August 6th. Capital Product Partners’s dividend payout ratio (DPR) is presently 26.20%.

Institutional Trading of Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 187,697 shares of the shipping company’s stock after purchasing an additional 28,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 as of its most recent SEC filing.

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.