Navios Maritime Midstream Partners LP (NAP) Given New $8.00 Price Target at Citigroup Inc.

Navios Maritime Midstream Partners LP (NYSE:NAP) had its target price raised by Citigroup Inc. from $7.00 to $8.00 in a report released on Friday morning. They currently have a neutral rating on the shipping company’s stock.

NAP has been the subject of several other research reports. ValuEngine raised shares of Navios Maritime Midstream Partners from a hold rating to a buy rating in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Navios Maritime Midstream Partners from a strong sell rating to a hold rating in a research report on Tuesday, July 25th. Finally, Bank of America Corporation downgraded shares of Navios Maritime Midstream Partners from a neutral rating to an underperform rating and reduced their price objective for the stock from $13.00 to $8.00 in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Navios Maritime Midstream Partners presently has an average rating of Hold and a consensus target price of $9.33.

Shares of Navios Maritime Midstream Partners (NAP) traded up 1.31% on Friday, reaching $9.30. 78,605 shares of the company were exchanged. The company has a market cap of $194.81 million, a price-to-earnings ratio of 11.23 and a beta of 0.57. Navios Maritime Midstream Partners has a 12 month low of $6.55 and a 12 month high of $12.70. The company’s 50-day moving average price is $7.80 and its 200 day moving average price is $9.62.

Navios Maritime Midstream Partners (NYSE:NAP) last released its quarterly earnings results on Thursday, October 19th. The shipping company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.03). Navios Maritime Midstream Partners had a return on equity of 5.17% and a net margin of 16.83%. The firm had revenue of $20.74 million for the quarter, compared to the consensus estimate of $21.24 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, equities research analysts expect that Navios Maritime Midstream Partners will post $0.70 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Friday, November 10th will be given a dividend of $0.4225 per share. This represents a $1.69 annualized dividend and a dividend yield of 18.17%. The ex-dividend date of this dividend is Thursday, November 9th. Navios Maritime Midstream Partners’s dividend payout ratio (DPR) is 216.67%.

Several hedge funds have recently made changes to their positions in the company. Arrow Investment Advisors LLC acquired a new stake in Navios Maritime Midstream Partners in the 2nd quarter valued at $570,000. Virtu KCG Holdings LLC acquired a new stake in Navios Maritime Midstream Partners in the 2nd quarter valued at $266,000. Finally, CWA Asset Management Group LLC acquired a new stake in Navios Maritime Midstream Partners in the 2nd quarter valued at $133,000. 27.83% of the stock is owned by institutional investors.

Navios Maritime Midstream Partners Company Profile

Navios Maritime Midstream Partners L.P. (Navios Midstream) is a holding company. The Company’s principal activity is to own, operate and acquire crude oil tankers under long-term employment contracts, as well as refined petroleum product tankers, chemical tankers, and liquefied petroleum gas (LPG) tankers under long-term employment contracts.

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