Capital Product Partners (NASDAQ:CPLP) Stock Passes Above Two Hundred Day Moving Average of $16.84

Capital Product Partners L.P. (NASDAQ:CPLP) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.84 and traded as high as $18.01. Capital Product Partners shares last traded at $17.62, with a volume of 51,203 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on CPLP. Jefferies Financial Group downgraded shares of Capital Product Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $18.00 in a report on Tuesday, February 27th. StockNews.com upgraded shares of Capital Product Partners from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Finally, Stifel Nicolaus cut their price objective on Capital Product Partners from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Capital Product Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Capital Product Partners Stock Performance

The company has a quick ratio of 1.20, a current ratio of 1.41 and a debt-to-equity ratio of 1.48. The business’s fifty day moving average is $16.95 and its two-hundred day moving average is $16.84. The stock has a market capitalization of $975.94 million, a PE ratio of 7.69 and a beta of 0.87.

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

Capital Product Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.41%. Capital Product Partners’s dividend payout ratio is 26.20%.

Institutional Inflows and Outflows

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% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 approximately 0.91% of Capital Product Partners worth $3,266,000 as of its most recent SEC filing.

Capital Product Partners Company Profile

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.