Teekay Offshore Part Plans Quarterly Dividend of $0.54 (TOO)
Teekay Offshore Part (NYSE:TOO) announced a quarterly dividend on Wednesday, January 15th, American Banking News reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.5384 per share on Friday, February 14th. This represents a $2.15 annualized dividend and a dividend yield of 6.73%.
A number of analysts have recently weighed in on TOO shares. Analysts at Zacks downgraded shares of Teekay Offshore Part from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday. They now have a $30.40 price target on the stock. On the ratings front, analysts at RBC Capital downgraded shares of Teekay Offshore Part from an “outperform” rating to a “sector perform” rating in a research note to investors on Tuesday. They now have a $35.00 price target on the stock, down previously from $36.00. Finally, analysts at Global Hunter Securities downgraded shares of Teekay Offshore Part from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.88.
Shares of Teekay Offshore Part (NYSE:TOO) traded up 1.25% on Wednesday, hitting $32.40. The stock had a trading volume of 62,852 shares. Teekay Offshore Part has a 52 week low of $26.71 and a 52 week high of $36.09. The stock has a 50-day moving average of $31.80 and a 200-day moving average of $32.67. The company has a market cap of $2.712 billion and a price-to-earnings ratio of 37.08.
Teekay Offshore Part (NYSE:TOO) last announced its earnings results on Thursday, November 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.22. On average, analysts predict that Teekay Offshore Part will post $0.94 earnings per share for the current fiscal year.
Teekay Offshore Partners L.P. (NYSE:TOO) is an international provider of marine transportation and storage services to the offshore oil industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.