Navios Maritime Midstream Partners LP (NAP) Announces $0.42 Quarterly Dividend
Navios Maritime Midstream Partners LP (NYSE:NAP) declared a quarterly dividend on Tuesday, October 18th. Shareholders of record on Tuesday, November 8th will be paid a dividend of 0.4225 per share on Thursday, November 10th. This represents a $1.69 dividend on an annualized basis and a yield of 15.56%. The ex-dividend date is Friday, November 4th.
Shares of Navios Maritime Midstream Partners (NYSE:NAP) traded up 1.40% during trading on Tuesday, reaching $10.86. 61,151 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $10.88 and a 200 day moving average price of $11.67. The company has a market capitalization of $220.22 million, a P/E ratio of 7.67 and a beta of 0.90. Navios Maritime Midstream Partners has a 12-month low of $6.58 and a 12-month high of $15.21.
Navios Maritime Midstream Partners (NYSE:NAP) last issued its earnings results on Thursday, July 28th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The company earned $22.69 million during the quarter, compared to analysts’ expectations of $23.17 million. Navios Maritime Midstream Partners had a net margin of 30.21% and a return on equity of 10.35%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. Equities analysts expect that Navios Maritime Midstream Partners will post $1.33 EPS for the current fiscal year.
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Several brokerages have issued reports on NAP. Zacks Investment Research upgraded Navios Maritime Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 4th. Credit Suisse Group AG reiterated a “buy” rating and set a $13.00 price target on shares of Navios Maritime Midstream Partners in a report on Monday. JPMorgan Chase & Co. reiterated a “hold” rating and set a $8.00 price target on shares of Navios Maritime Midstream Partners in a report on Friday, July 29th. Finally, Bank of America Corp. cut Navios Maritime Midstream Partners from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.50.
An institutional investor recently raised its position in Navios Maritime Midstream Partners stock. BlackRock Institutional Trust Company N.A. raised its position in Navios Maritime Midstream Partners LP (NYSE:NAP) by 46.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,797 shares of the company’s stock after buying an additional 4,674 shares during the period. BlackRock Institutional Trust Company N.A. owned approximately 0.07% of Navios Maritime Midstream Partners worth $174,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 35.44% of the company’s stock.
Navios Maritime Midstream Partners Company Profile
Navios Maritime Midstream Partners L.P. is a holding company. The Company is a limited partnership formed to own, operate and acquire crude oil tankers under long-term employment contracts. The Company may also seek to own, operate and acquire refined petroleum product tankers, chemical tankers and liquefied petroleum gas (LPG) tankers under long-term employment contracts.
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