Capital Product Partners (NASDAQ:CPLP) Shares Down 3.2%

Capital Product Partners L.P. (NASDAQ:CPLP) traded down 3.2% on Friday . The company traded as low as $16.33 and last traded at $16.40. 9,230 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 86,452 shares. The stock had previously closed at $16.95.

Analyst Ratings Changes

Several brokerages have issued reports on CPLP. Stifel Nicolaus lowered their price target on shares of Capital Product Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. StockNews.com raised shares of Capital Product Partners from a “hold” rating to a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Capital Product Partners has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Capital Product Partners Stock Performance

The company has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $17.10. The stock has a market capitalization of $919.47 million, a P/E ratio of 7.38 and a beta of 0.87. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.41 and a quick ratio of 1.20.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Tuesday, April 30th. The shipping company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $100.64 million for the quarter, compared to the consensus estimate of $101.95 million. Capital Product Partners had a net margin of 18.51% and a return on equity of 6.30%. On average, equities analysts forecast that Capital Product Partners L.P. will post 1.58 EPS for the current year.

Capital Product Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were issued a $0.15 dividend. The ex-dividend date was Monday, May 6th. This represents a $0.60 annualized dividend and a yield of 3.61%. Capital Product Partners’s dividend payout ratio (DPR) is presently 26.20%.

Hedge Funds Weigh In On Capital Product Partners

A hedge fund recently raised its stake in Capital Product Partners stock. Mirae Asset Global Investments Co. Ltd. increased its position in Capital Product Partners L.P. (NASDAQ:CPLP) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,697 shares of the shipping company’s stock after acquiring an additional 28,596 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.91% of Capital Product Partners worth $3,266,000 at the end of the most recent reporting period.

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.