USD Partners LP (NYSE:USDP) announced a quarterly dividend on Thursday, October 25th, NASDAQ reports. Stockholders of record on Tuesday, November 6th will be paid a dividend of 0.357 per share by the transportation company on Wednesday, November 14th. This represents a $1.43 annualized dividend and a dividend yield of 13.51%. The ex-dividend date of this dividend is Monday, November 5th. This is an increase from USD Partners’s previous quarterly dividend of $0.36.
USD Partners has a payout ratio of 134.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect USD Partners to earn $0.86 per share next year, which means the company may not be able to cover its $1.43 annual dividend with an expected future payout ratio of 166.3%.
Shares of USD Partners stock opened at $10.57 on Wednesday. USD Partners has a 1 year low of $9.15 and a 1 year high of $12.00. The firm has a market cap of $278.49 million, a PE ratio of 12.01 and a beta of 0.75. The company has a quick ratio of 2.18, a current ratio of 2.41 and a debt-to-equity ratio of 2.65.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised USD Partners from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, October 24th. B. Riley set a $14.00 price objective on USD Partners and gave the stock a “buy” rating in a report on Sunday, July 8th. ValuEngine raised USD Partners from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Finally, Janney Montgomery Scott raised USD Partners from a “neutral” rating to a “buy” rating in a report on Tuesday, July 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.00.
About USD Partners
USD Partners LP acquires, develops, and operates midstream infrastructure assets and logistics solutions for crude oil, biofuels, and other energy-related products in the United States and Canada. The company operates through Terminalling Services and Fleet Services segments. The Terminalling Services segment owns and operates Hardisty terminal, an origination terminal for loading various grades of Canadian crude oil onto railcars for transportation to end markets; Stroud terminal, a crude oil destination terminal, which is used to facilitate rail-to-pipeline shipments of crude oil located in Stroud, Oklahoma; Casper terminal, a crude oil storage, blending, and railcar loading terminal located in Casper, Wyoming; and terminals in San Antonio, Texas and West Colton, California, which are unit train-capable destination terminals that transload ethanol received by rail from producers onto trucks.
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