Capital Product Partners (NASDAQ:CPLP) Stock Price Passes Above 200-Day Moving Average of $8.82


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Capital Product Partners L.P. (NASDAQ:CPLP) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.82 and traded as high as $10.67. Capital Product Partners shares last traded at $10.65, with a volume of 49,417 shares traded.

Several research analysts recently commented on CPLP shares. Zacks Investment Research lowered shares of Capital Product Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. B. Riley boosted their target price on shares of Capital Product Partners from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 5th.

The company has a market cap of $197.30 million, a PE ratio of 7.01 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 0.83. The firm’s 50-day simple moving average is $10.58 and its two-hundred day simple moving average is $8.82.

Capital Product Partners (NASDAQ:CPLP) last released its earnings results on Thursday, January 28th. The shipping company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.11). The company had revenue of $33.22 million for the quarter, compared to analysts’ expectations of $34.67 million. Capital Product Partners had a return on equity of 6.97% and a net margin of 21.29%. As a group, analysts predict that Capital Product Partners L.P. will post 1.71 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 10th. Stockholders of record on Tuesday, February 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend was Monday, February 1st. Capital Product Partners’s dividend payout ratio (DPR) is currently 48.19%.

Hedge funds have recently added to or reduced their stakes in the company. B. Riley Wealth Management Inc. purchased a new stake in shares of Capital Product Partners in the 4th quarter valued at $81,000. Vanguard Capital Wealth Advisors purchased a new stake in shares of Capital Product Partners in the 4th quarter valued at $145,000. Creative Planning purchased a new stake in shares of Capital Product Partners in the 4th quarter valued at $178,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Capital Product Partners in the 4th quarter valued at $306,000. Finally, Morgan Stanley boosted its holdings in shares of Capital Product Partners by 2.3% in the 3rd quarter. Morgan Stanley now owns 397,030 shares of the shipping company’s stock valued at $2,620,000 after acquiring an additional 9,011 shares during the last quarter. 17.31% of the stock is currently owned by institutional investors and hedge funds.

Capital Product Partners Company Profile (NASDAQ:CPLP)

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. Its vessels transports a range of dry cargoes and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters. As of March 05, 2020, the company owned 14 vessels, including 13 Neo-Panamax container vessels and one capesize bulk carrier.

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