Capital Product Partners (NASDAQ:CPLP) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a research note published on Friday morning. The brokerage issued a hold rating on the shipping company’s stock.

Capital Product Partners Trading Up 2.1 %

Shares of Capital Product Partners stock opened at $16.77 on Friday. The company has a market capitalization of $928.86 million, a P/E ratio of 7.32 and a beta of 0.87. The stock has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $16.90. Capital Product Partners has a 12-month low of $12.70 and a 12-month high of $18.85. 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 (NASDAQ:CPLP) last posted its earnings results on Friday, August 2nd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.23. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. The firm had revenue of $97.67 million during the quarter, compared to analyst estimates of $90.22 million. During the same quarter in the prior year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that Capital Product Partners will post 1.57 earnings per share for the current fiscal year.

Capital Product Partners Announces Dividend

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

Institutional Investors Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,697 shares of the shipping company’s stock after buying an additional 28,596 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.91% of Capital Product Partners worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.