Today The Capital Product Partners L.P. (CPLP) Upgraded by Evercore ISI to Buy

Today The Capital Product Partners L.P. (CPLP) Upgraded by Evercore ISI to Buy

Evercore ISI upgraded shares of Capital Product Partners L.P. (NASDAQ:CPLP) from a hold rating to a buy rating in a research note released on Thursday. They currently have $5.00 price objective on the stock.

Several other research analysts also recently issued reports on CPLP. Clarkson Capital reaffirmed a buy rating on shares of Capital Product Partners L.P. in a report on Monday, October 31st. Jefferies Group LLC reaffirmed a buy rating and set a $5.00 price objective on shares of Capital Product Partners L.P. in a report on Tuesday, November 1st. Finally, Zacks Investment Research downgraded Capital Product Partners L.P. from a buy rating to a hold rating in a report on Monday, December 19th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Capital Product Partners L.P. has an average rating of Hold and an average price target of $6.17.

Capital Product Partners L.P. (NASDAQ:CPLP) opened at 3.53 on Thursday. The stock’s 50 day moving average price is $3.21 and its 200-day moving average price is $3.27. Capital Product Partners L.P. has a one year low of $2.41 and a one year high of $4.76. The stock has a market cap of $426.79 million, a P/E ratio of 10.09 and a beta of 1.79.

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings data on Monday, October 31st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.01. Capital Product Partners L.P. had a return on equity of 6.03% and a net margin of 22.68%. The firm had revenue of $60.30 million for the quarter, compared to analyst estimates of $58.18 million. On average, analysts predict that Capital Product Partners L.P. will post $0.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Monday, February 6th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, February 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.07%. This is a boost from Capital Product Partners L.P.’s previous quarterly dividend of $0.08. Capital Product Partners L.P.’s dividend payout ratio is currently 85.72%.

Several hedge funds have recently added to or reduced their stakes in CPLP. Two Sigma Advisers LP boosted its stake in Capital Product Partners L.P. by 2.2% in the third quarter. Two Sigma Advisers LP now owns 488,292 shares of the company’s stock worth $1,592,000 after buying an additional 10,376 shares in the last quarter. Teachers Advisors Inc. boosted its stake in Capital Product Partners L.P. by 0.7% in the second quarter. Teachers Advisors Inc. now owns 1,571,400 shares of the company’s stock worth $4,683,000 after buying an additional 10,700 shares in the last quarter. Partnervest Advisory Services LLC boosted its stake in Capital Product Partners L.P. by 11.6% in the third quarter. Partnervest Advisory Services LLC now owns 131,354 shares of the company’s stock worth $428,000 after buying an additional 13,681 shares in the last quarter. Benchmark Capital Advisors boosted its stake in Capital Product Partners L.P. by 10.4% in the third quarter. Benchmark Capital Advisors now owns 170,560 shares of the company’s stock worth $556,000 after buying an additional 16,000 shares in the last quarter. Finally, Arrow Investment Advisors LLC boosted its stake in Capital Product Partners L.P. by 8.9% in the third quarter. Arrow Investment Advisors LLC now owns 238,692 shares of the company’s stock worth $778,000 after buying an additional 19,550 shares in the last quarter. Institutional investors and hedge funds own 17.06% of the company’s stock.

About Capital Product Partners L.P.

Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.

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