GasLog Partners LP Unit (NYSE:GLOP) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, November 5th will be given a dividend of 0.53 per share by the shipping company on Friday, November 9th. This represents a $2.12 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date is Friday, November 2nd.
GasLog Partners LP Unit has raised its dividend by an average of 51.4% per year over the last three years and has raised its dividend every year for the last 3 years. GasLog Partners LP Unit has a payout ratio of 126.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect GasLog Partners LP Unit to earn $1.95 per share next year, which means the company may not be able to cover its $2.12 annual dividend with an expected future payout ratio of 108.7%.
GLOP stock traded down $0.17 during trading hours on Friday, reaching $25.09. 179,734 shares of the stock were exchanged, compared to its average volume of 138,382. The stock has a market cap of $1.04 billion, a PE ratio of 12.00 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. GasLog Partners LP Unit has a 12 month low of $21.85 and a 12 month high of $25.60.
A number of equities analysts have issued reports on GLOP shares. Zacks Investment Research cut GasLog Partners LP Unit from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. BTIG Research started coverage on GasLog Partners LP Unit in a report on Wednesday, July 18th. They set a “buy” rating and a $30.00 target price for the company. B. Riley set a $27.00 target price on GasLog Partners LP Unit and gave the stock a “hold” rating in a report on Tuesday, July 31st. Berenberg Bank started coverage on GasLog Partners LP Unit in a report on Thursday, September 6th. They set a “buy” rating and a $29.00 target price for the company. Finally, Deutsche Bank started coverage on GasLog Partners LP Unit in a report on Wednesday, October 10th. They set a “hold” rating and a $25.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. GasLog Partners LP Unit currently has an average rating of “Buy” and a consensus target price of $27.25.
About GasLog Partners LP Unit
GasLog Partners LP owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters. As of February 8, 2018, it had a fleet of 12 LNG carriers. The company was founded in 2014 and is based in Monaco.
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