GasLog LP. (NYSE:GLOG) declared a quarterly dividend on Thursday, August 3rd, Fidelity reports. Stockholders of record on Monday, August 14th will be given a dividend of 0.14 per share by the shipping company on Thursday, August 24th. This represents a $0.56 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, August 10th.
GasLog LP. has increased its dividend payment by an average of 7.6% annually over the last three years. GasLog LP. has a dividend payout ratio of 1,120.0% 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 LP. to earn $0.41 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 136.6%.
GasLog LP. (NYSE GLOG) traded up 1.26% on Friday, hitting $16.10. The stock had a trading volume of 247,889 shares. The company has a 50 day moving average price of $16.79 and a 200-day moving average price of $15.20. The company’s market cap is $1.29 billion. GasLog LP. has a 52-week low of $12.39 and a 52-week high of $18.35.
GasLog LP. (NYSE:GLOG) last issued its earnings results on Thursday, August 3rd. The shipping company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.01. GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The company had revenue of $129.90 million during the quarter, compared to analysts’ expectations of $128.14 million. During the same quarter in the previous year, the company earned ($0.01) EPS. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that GasLog LP. will post $0.10 earnings per share for the current year.
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A number of analysts have recently commented on the company. Morgan Stanley upgraded GasLog LP. from an “equal weight” rating to an “overweight” rating and set a $17.00 target price on the stock in a research note on Tuesday, June 13th. BidaskClub raised GasLog LP. from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Zacks Investment Research cut GasLog LP. from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Credit Suisse Group started coverage on GasLog LP. in a report on Tuesday, April 25th. They issued an “outperform” rating and a $21.00 price target for the company. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price target on shares of GasLog LP. in a report on Thursday, August 3rd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. GasLog LP. presently has an average rating of “Buy” and a consensus target price of $19.13.
About GasLog LP.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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