Capital Product Partners (NASDAQ:CPLP) Upgraded to “Hold” at ValuEngine

ValuEngine upgraded shares of Capital Product Partners (NASDAQ:CPLP) from a sell rating to a hold rating in a report published on Tuesday, ValuEngine reports.

CPLP has been the topic of a number of other reports. Zacks Investment Research lowered shares of Capital Product Partners from a hold rating to a strong sell rating in a research note on Tuesday, November 19th. TheStreet raised shares of Capital Product Partners from a d+ rating to a c- rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $15.67.

Shares of NASDAQ CPLP opened at $11.70 on Tuesday. Capital Product Partners has a twelve month low of $9.68 and a twelve month high of $17.64. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.58. The stock has a fifty day simple moving average of $11.64 and a 200-day simple moving average of $10.90. The stock has a market capitalization of $209.77 million, a PE ratio of 11.94 and a beta of 1.07.

Capital Product Partners (NASDAQ:CPLP) last posted its earnings results on Thursday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.22). Capital Product Partners had a positive return on equity of 6.40% and a negative net margin of 73.89%. The firm had revenue of $25.71 million for the quarter, compared to analyst estimates of $26.22 million. On average, equities analysts predict that Capital Product Partners will post 0.89 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, November 1st were paid a $0.315 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.26 annualized dividend and a dividend yield of 10.77%. Capital Product Partners’s dividend payout ratio (DPR) is 128.57%.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of Capital Product Partners by 410.5% during the second quarter. Wells Fargo & Company MN now owns 9,316 shares of the shipping company’s stock worth $98,000 after acquiring an additional 7,491 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Capital Product Partners during the 2nd quarter worth $110,000. Sunbelt Securities Inc. acquired a new stake in Capital Product Partners in the 3rd quarter valued at about $160,000. HighTower Advisors LLC purchased a new stake in shares of Capital Product Partners during the second quarter worth approximately $230,000. Finally, Royal Bank of Canada increased its stake in shares of Capital Product Partners by 494.9% during the second quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock worth $248,000 after buying an additional 19,627 shares during the period. 20.07% of the stock is currently owned by institutional investors and hedge funds.

About Capital Product Partners

Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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