CSI Compressco LP - Units said on April 17, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 30, 2023 will receive the payment on May 15, 2023.
At the current share price of $1.20 / share, the stock's dividend yield is 3.33%. Looking back five years and taking a sample every week, the average dividend yield has been 4.93%, the lowest has been 1.08%, and the highest has been 33.04%. The standard deviation of yields is 5.29 (n=237).
The current dividend yield is 0.30 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.26. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 36 funds or institutions reporting positions in CSI Compressco LP - Units.
This is an increase
of
3
owner(s) or 9.09% in the last quarter.
Average portfolio weight of all funds dedicated to CCLP is 0.14%,
a decrease
of 26.79%.
Total shares owned by institutions increased
in the last three months by 5.89% to 37,435K shares.
The put/call ratio of CCLP is 0.00, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 48.75% Upside
As of April 6, 2023, the average one-year price target for CSI Compressco LP - Units is $1.78. The forecasts range from a low of $1.77 to a high of $1.84. The average price target represents an increase of 48.75% from its latest reported closing price of $1.20.
See our leaderboard of companies with the largest price target upside.
What are Other Shareholders Doing?
Royal Bank Of Canada holds 154K shares representing 0.11% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Antonetti Capital Management holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
Aristides Capital holds 25K shares representing 0.02% ownership of the company. No change in the last quarter.
Wiley Bros.-aintree Capital holds 344K shares representing 0.24% ownership of the company. In it's prior filing, the firm reported owning 369K shares, representing a decrease of 7.06%. The firm decreased its portfolio allocation in CCLP by 10.45% over the last quarter.
WealthTrust Axiom holds 159K shares representing 0.11% ownership of the company. In it's prior filing, the firm reported owning 181K shares, representing a decrease of 14.24%. The firm decreased its portfolio allocation in CCLP by 99.91% over the last quarter.
CSI Compressco Background Information
(This description is provided by the company.)
CSI Compressco is a provider of compression services and equipment for natural gas and oil production, gathering, artificial lift, transmission, processing, and storage. CSI Compressco's compression and related services business includes a fleet of more than 4,900 compressor packages providing approximately 1.17 million in aggregate horsepower, utilizing a full spectrum of low-, medium- and high-horsepower engines. CSI Compressco also provides well monitoring and automated sand separation services in conjunction with compression and related services in certain Latin American markets. CSI Compressco's aftermarket business provides compressor package reconfiguration and maintenance services. CSI Compressco's customers comprise a broad base of natural gas and oil exploration and production, midstream, transmission, and storage companies operating throughout many of the onshore producing regions of the United States, as well as in a number of foreign countries, including Mexico, Canada and Argentina. CSI Compressco is managed by Spartan Energy Partners.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
