Crosstex Energy LP Plans Quarterly Dividend of $0.34 (XTEX)
Crosstex Energy LP (NASDAQ:XTEX) announced a quarterly dividend on Friday, October 18th, ARN reports. Stockholders of record on Wednesday, October 30th will be paid a dividend of $0.34 per share on Tuesday, November 12th. This represents a $1.36 annualized dividend and a dividend yield of 6.83%.
XTEX has been the subject of a number of recent research reports. Analysts at Oppenheimer initiated coverage on shares of Crosstex Energy LP in a research note to investors on Tuesday, September 3rd. They set a “market perform” rating on the stock. Analysts at Credit Suisse downgraded shares of Crosstex Energy LP from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 9th. They now have a $24.00 price target on the stock, down previously from $25.00. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Crosstex Energy LP currently has a consensus rating of “Hold” and an average price target of $20.83.
Crosstex Energy LP (NASDAQ:XTEX) opened at 19.90 on Friday. Crosstex Energy LP has a 1-year low of $13.06 and a 1-year high of $22.05. The stock’s 50-day moving average is $19.46 and its 200-day moving average is $19.83. The company’s market cap is $1.765 billion.
Crosstex Energy LP (NASDAQ:XTEX) last released its earnings data on Thursday, August 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.07. The company had revenue of $454.60 million for the quarter, compared to the consensus estimate of $435.03 million. On average, analysts predict that Crosstex Energy LP will post $-0.80 earnings per share for the current fiscal year.
Crosstex Energy, L.P. is an independent midstream energy company engaged in the gathering, transmission, processing and marketing of natural gas and natural gas liquids (NASDAQ:XTEX).
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