Dynagas LNG Partners LP (NYSE:DLNG) announced a quarterly dividend on Thursday, October 5th, Wall Street Journal reports. Stockholders of record on Thursday, October 12th will be given a dividend of 0.4225 per share by the shipping company on Thursday, October 19th. This represents a $1.69 annualized dividend and a dividend yield of 11.93%. The ex-dividend date of this dividend is Wednesday, October 11th.

Dynagas LNG Partners has a payout ratio of 216.7% meaning 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 Dynagas LNG Partners to earn $0.72 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 234.7%.

Dynagas LNG Partners (DLNG) traded up 0.93% during mid-day trading on Thursday, hitting $14.17. 372,675 shares of the stock traded hands. The firm’s 50-day moving average is $13.84 and its 200 day moving average is $15.19. Dynagas LNG Partners has a 52-week low of $12.76 and a 52-week 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 issued its quarterly earnings results on Tuesday, September 5th. The shipping company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). Dynagas LNG Partners had a net margin of 26.03% and a return on equity of 19.22%. The company had revenue of $31.98 million for the quarter, compared to the consensus estimate of $33.70 million. Equities analysts predict that Dynagas LNG Partners will post $0.81 EPS for the current fiscal year.

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DLNG has been the subject of several analyst reports. Zacks Investment Research upgraded Dynagas LNG Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Maxim Group set a $20.00 price target on Dynagas LNG Partners and gave the company a “buy” rating in a report on Thursday, June 8th. BidaskClub downgraded Dynagas LNG Partners from a “sell” rating to a “strong sell” rating in a report on Saturday, September 2nd. Stifel Nicolaus raised their price target on Dynagas LNG Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “buy” rating and set a $19.00 price target on shares of Dynagas LNG Partners in a report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.20.

Dynagas LNG Partners Company Profile

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).

Dividend History for Dynagas LNG Partners (NYSE:DLNG)

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