GasLog Partners LP Unit (NYSE:GLOP) Increases Dividend to $0.55 Per Share

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GasLog Partners LP Unit (NYSE:GLOP) declared a quarterly dividend on Thursday, July 25th, Fidelity reports. Stockholders of record on Monday, August 5th will be paid a dividend of 0.55 per share by the shipping company on Friday, August 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.24%. The ex-dividend date is Friday, August 2nd. This is an increase from GasLog Partners LP Unit’s previous quarterly dividend of $0.43.

GasLog Partners LP Unit has increased its dividend by an average of 5.9% per year 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. Equities research analysts expect GasLog Partners LP Unit to earn $1.71 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 128.7%.

GasLog Partners LP Unit stock opened at $17.98 on Friday. The company has a market cap of $746.34 million, a price-to-earnings ratio of 10.22 and a beta of 0.93. The business’s 50 day simple moving average is $20.83 and its 200 day simple moving average is $21.48. GasLog Partners LP Unit has a 12 month low of $17.83 and a 12 month high of $25.99. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.

GasLog Partners LP Unit (NYSE:GLOP) last posted its earnings results on Thursday, July 25th. The shipping company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.13). The company had revenue of $92.10 million for the quarter, compared to analysts’ expectations of $91.29 million. GasLog Partners LP Unit had a return on equity of 10.50% and a net margin of 22.95%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 EPS. As a group, equities research analysts forecast that GasLog Partners LP Unit will post 1.83 earnings per share for the current fiscal year.

Several research firms have recently weighed in on GLOP. TheStreet cut shares of GasLog Partners LP Unit from a “b-” rating to a “c” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of GasLog Partners LP Unit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Stifel Nicolaus cut shares of GasLog Partners LP Unit from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a report on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.00.

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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