Kimbell Royalty Partners, LP (NYSE:KRP) to Issue $0.40 Quarterly Dividend

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Stockholders of record on Tuesday, March 18th will be paid a dividend of 0.40 per share by the energy company on Tuesday, March 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.45%. The ex-dividend date of this dividend is Tuesday, March 18th.

Kimbell Royalty Partners has a payout ratio of 109.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Kimbell Royalty Partners to earn $1.01 per share next year, which means the company may not be able to cover its $1.56 annual dividend with an expected future payout ratio of 154.5%.

Kimbell Royalty Partners Stock Performance

Kimbell Royalty Partners stock traded up $0.23 on Friday, hitting $15.31. The company’s stock had a trading volume of 889,288 shares, compared to its average volume of 935,402. Kimbell Royalty Partners has a one year low of $14.93 and a one year high of $17.07. The firm has a market cap of $1.46 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 4.25 and a beta of 1.08. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $15.75 and a 200-day moving average price of $15.88.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KRP. Truist Financial increased their target price on Kimbell Royalty Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Raymond James increased their price objective on Kimbell Royalty Partners from $19.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 23rd.

Kimbell Royalty Partners Company Profile