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

Kimbell Royalty Partners, LP (NYSE:KRP) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders 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 is Tuesday, March 18th.

Kimbell Royalty Partners has a 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. Equities 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 Price Performance

Shares of NYSE KRP traded up $0.23 during midday trading on Friday, reaching $15.31. 891,294 shares of the company traded hands, compared to its average volume of 935,495. The firm has a market cap of $1.46 billion, a PE ratio of 30.02, a PEG ratio of 4.25 and a beta of 1.08. The stock’s 50-day simple moving average is $15.75 and its 200-day simple moving average is $15.88. Kimbell Royalty Partners has a 12 month low of $14.93 and a 12 month high of $17.07. The company has a debt-to-equity ratio of 0.40, a quick ratio of 5.20 and a current ratio of 5.20.

Wall Street Analysts Forecast Growth

KRP has been the subject of a number of research reports. Raymond James raised their target price on Kimbell Royalty Partners from $19.00 to $23.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Truist Financial raised their target price on Kimbell Royalty Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, January 13th.

Kimbell Royalty Partners Company Profile