GasLog Partners LP Unit Plans Quarterly Dividend of $0.55 (GLOP)

GasLog Partners LP Unit (NYSE:GLOP) declared a quarterly dividend on Wednesday, April 24th, NASDAQ reports. Investors of record on Monday, May 6th will be given a dividend of 0.55 per share by the shipping company on Friday, May 10th. This represents a $2.20 annualized dividend and a yield of 10.57%. The ex-dividend date is Friday, May 3rd.

GasLog Partners LP Unit has raised its dividend by an average of 5.9% annually over the last three years and has increased its dividend every year for the last 4 years. GasLog Partners LP Unit has a payout ratio of 131.7% 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 GasLog Partners LP Unit to earn $1.81 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 121.5%.

NYSE:GLOP opened at $20.81 on Friday. The firm has a market cap of $853.25 million, a P/E ratio of 11.82 and a beta of 1.25. GasLog Partners LP Unit has a one year low of $17.97 and a one year high of $25.99. The company has a quick ratio of 0.33, a current ratio of 0.34 and a debt-to-equity ratio of 0.97.

GasLog Partners LP Unit (NYSE:GLOP) last released its earnings results on Thursday, April 25th. The shipping company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.15). The company had revenue of $86.30 million for the quarter, compared to analyst estimates of $86.83 million. GasLog Partners LP Unit had a net margin of 25.75% and a return on equity of 11.06%. GasLog Partners LP Unit’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. As a group, analysts forecast that GasLog Partners LP Unit will post 1.87 earnings per share for the current fiscal year.

Several equities analysts recently commented on GLOP shares. Zacks Investment Research cut shares of GasLog Partners LP Unit from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Morgan Stanley reiterated an “equal weight” rating and set a $18.00 target price (down from $23.00) on shares of GasLog Partners LP Unit in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.14.

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About GasLog Partners LP Unit

GasLog Partners LP owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters. As of February 26, 2019, its fleet consists of 14 LNG carriers with an average carrying capacity of approximately 157,000 cubic meters. The company was founded in 2014 and is based in Monaco.

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Dividend History for GasLog Partners LP Unit (NYSE:GLOP)

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