Kimbell Royalty Partners, LP Announces Quarterly Dividend of $0.40 (NYSE:KRP)

Kimbell Royalty Partners, LP (NYSE:KRP) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Tuesday, March 18th will be given 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 yield of 10.45%. The ex-dividend date is Tuesday, March 18th.

Kimbell Royalty Partners has a dividend payout ratio of 109.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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 Trading Up 1.5 %

KRP stock traded up $0.23 during mid-day trading on Friday, reaching $15.31. 891,294 shares of the stock traded hands, compared to its average volume of 935,495. The company has a current ratio of 5.20, a quick ratio of 5.20 and a debt-to-equity ratio of 0.40. Kimbell Royalty Partners has a 52-week low of $14.93 and a 52-week high of $17.07. The company has a market cap of $1.46 billion, a P/E ratio of 30.02, a P/E/G ratio of 4.25 and a beta of 1.08. The stock’s fifty day moving average is $15.75 and its 200-day moving average is $15.88.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KRP shares. Truist Financial upped their target price on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Monday, January 13th. Raymond James upped their target price on Kimbell Royalty Partners from $19.00 to $23.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd.

Kimbell Royalty Partners Company Profile