CSI Compressco LP – Units said on July 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 July 27, 2023 to be eligible for the dividend. Shareholders of record as of July 28, 2023 will receive payment on August 14, 2023.
At the current share price of $1.11/share, the dividend yield of the stock is 3.60%.
Looking back five years and taking a sample each week, the average dividend yield was 4.48%, the low 1.08% and the high 33.04%. The standard deviation of returns is 5.00 (n=236).
The current dividend yield is 0.18 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.31. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company has not increased its dividend in the past three years.
What is fund sentiment?
There are 34 funds or institutions reporting positions in CSI Compressco LP – Units. This is a decrease of 2 owner(s) or 5.56% in the last quarter. Average portfolio weight of all funds dedicated to CCLP is 0.16%, an increase of 18.04%. The total number of shares held by institutions has decreased over the past three months by 1.92% to 36,718,000 shares. CCLP’s put/call ratio is 0.00, indicating a bullish outlook.
Analyst price forecast suggests 60.81% upside
As of July 6, 2023, the one-year average price target for CSI Compressco LP – Units was 1.78. The forecast ranges from a low of 1.77 to a high of $1.84. The average price target represents a 60.81% increase from its last published closing price of 1.11.
Check out our ranking of companies with the biggest upward price target.
What are the other shareholders doing?
Invesco holds 10,456,000 shares representing 7.36% ownership of the company. In its previous filing, the company stated that it holds 10,731,000 shares, representing a decrease 2.63%. The company decreases its CCLP portfolio allocation of 14.18% over the last quarter.
MLPEX – Invesco Oppenheimer SteelPath MLP Select 40 Fund Class C holds 10,456,000 shares representing 7.36% ownership of the company. In its previous filing, the company stated that it holds 10,731,000 shares, representing a decrease 2.63%. The company increase its portfolio allocation to CCLP by 2.98% in the last quarter.
Hill City Capital holds 7,459,000 shares representing 5.25% ownership of the company. No change in the last quarter.
AEGON USA Investment Management holds 1,569,000 shares representing 1.11% ownership of the company. In its previous filing, the company said it held 1,661,000 shares, representing a decrease of 5.82%. The company decreases its CCLP portfolio allocation of 15.90% over the last quarter.
Jpmorgan Chase owns 1,292,000 shares representing 0.91% ownership of the company. In its previous filing, the company said it held 1,616,000 shares, representing a decrease of 25.12%. The company decreases its CCLP portfolio allocation of 31.70% over the last quarter.
General information about CSI Compressco
(This description is provided by the company.)
CSI Compressco is a supplier of compression services and equipment for the production, gathering, artificial extraction, transmission, processing and storage of natural gas and oil. CSI Compressco’s compressor and related services business includes a fleet of more than 4,900 compressor sets delivering approximately 1.17 million horsepower, using a full line 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 reconfiguration and maintenance services. CSI Compressco’s customers include a broad base of natural gas and oil exploration and production, midstream, transportation and storage companies operating in many onshore producing regions of the United States, as well as a number from foreign countries, including Mexico, Canada and Argentina. CSI Compressco is managed by Spartan Energy Partners.
This story originally appeared on Fintel.
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