Dynagas LNG Partners LP (DLNG) Declares $0.42 Quarterly Dividend
Dynagas LNG Partners LP (NYSE:DLNG) announced a quarterly dividend on Thursday, October 5th, Wall Street Journal reports. Shareholders of record on Thursday, October 12th will be paid a dividend of 0.4225 per share by the shipping company on Thursday, October 19th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 11.93%. The ex-dividend date is Wednesday, October 11th.
Dynagas LNG Partners has a payout ratio of 216.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Dynagas LNG Partners to earn $0.73 per share next year, which means the company may not be able to cover its $1.69 annual dividend with an expected future payout ratio of 231.5%.
Shares of Dynagas LNG Partners (DLNG) opened at 14.17 on Friday. The firm has a 50 day moving average price of $13.84 and a 200-day moving average price of $15.18. Dynagas LNG Partners has a one year low of $12.76 and a one year high of $17.93. The firm has a market cap of $503.39 million, a P/E ratio of 14.92 and a beta of 1.10.
Dynagas LNG Partners (NYSE:DLNG) last released its quarterly earnings results on Tuesday, September 5th. The shipping company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). The firm had revenue of $31.98 million for the quarter, compared to analysts’ expectations of $33.70 million. Dynagas LNG Partners had a net margin of 26.03% and a return on equity of 19.22%. Analysts forecast that Dynagas LNG Partners will post $0.81 earnings per share for the current year.
Several research analysts recently issued reports on DLNG shares. Zacks Investment Research upgraded shares of Dynagas LNG Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Maxim Group set a $20.00 target price on shares of Dynagas LNG Partners and gave the stock a “buy” rating in a research report on Thursday, June 8th. BidaskClub lowered shares of Dynagas LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 2nd. Stifel Nicolaus upped their target price on shares of Dynagas LNG Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Dynagas LNG Partners in a research report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Dynagas LNG Partners has an average rating of “Hold” and an average target price of $17.20.
About Dynagas LNG Partners
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
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