Published: Sat, August 12, 2017
Business | By Max Garcia

Teekay Corporation (NYSE:TK) Plans Quarterly Dividend of $0.06

Teekay Corporation (NYSE:TK) Plans Quarterly Dividend of $0.06

Teekay Offshore Partners L.P.

Analysts' mean recommendation for Teekay Corporation (TK) stands at 3.30. Teekay LNG Partners L.P.'s dividend payout ratio (DPR) is presently 32.75%.

As of the last earnings report the EPS was $-1.52 and is projected to be $-1.26 for the current year with 86,259,000 shares outstanding.

A number of analysts have issued reports on the company. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that follow Teekay Corporation. (NYSE:TGP) last issued its quarterly earnings data on Thursday, August 3rd. The firm had revenue of $543.50 million during the quarter, compared to analysts' expectations of $497.83 million. It is involved in the operations in the offshore production, storage and transportation sector through its subsidiary, Teekay Offshore Partners L.P. (Teekay Offshore) and through its interest in Teekay Petrojarl AS. During the same quarter in the previous year, the business posted ($0.08) EPS. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Morgan Stanley lowered Teekay Corporation from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $8.00 to $3.00 in a research note on Friday, June 9th. The rating was maintained by Oppenheimer with "Hold" on Wednesday, June 14. The stock of Teekay Offshore Partners L.P. (NYSE:TOO) has "Sector Perform" rating given on Thursday, December 17 by RBC Capital Markets. BidaskClub raised Teekay Corporation from a "hold" rating to a "buy" rating in a report on Wednesday, August 2nd. The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 2.20.

Teekay Corporation (NYSE:TK) declared a quarterly dividend on Friday, July 7th, RTT News reports. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable.

ValuEngine has upgraded Teekay LNG Partners L.P. (NYSE:TGP) to Strong-Buy in a report released on 07/08/2017.

The most current P/E ratio is 10.38 and market capitalization is 1.41B. Teekay Offshore Partners LP (NYSE:TOO)'s price sits 1.93% above from its 50-day moving average of $2.5 and -43.06% away from the stock's 200-day moving average which is $4.22. Stockholders of record on Friday, August 4th will be given a dividend of 0.055 per share by the shipping company on Wednesday, August 16th. This dividend amount will represent a yeild of $2.32. The ex-dividend date of this dividend is Thursday, August 3rd.

Several institutional investors have recently modified their holdings of TK. Stifel Financial Corp acquired a new position in Teekay Offshore Partners L.P. during the first quarter valued at approximately $113,000. Eagle Global Advisors LLC now owns 11,005,693 shares of the shipping company's stock valued at $55,799,000 after buying an additional 155,860 shares during the last quarter. State Street Corp increased its position in shares of Teekay Corporation by 50.3% in the fourth quarter. Ronna Sue Cohen boosted its stake in shares of Teekay Offshore Partners L.P.by 0.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 663,869 shares of the shipping company's stock worth $6,075,000 after buying an additional 128,902 shares in the last quarter. Berson & Corrado Investment Advisors LLC boosted its stake in shares of Teekay Offshore Partners L.P.by 0.6% in the second quarter. Parkside Financial Bank & Trust now owns 77,110 shares of the shipping company's stock valued at $391,000 after buying an additional 5,275 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Teekay Corporation by 333.1% in the first quarter. Creative Planning now owns 36,188 shares of the shipping company's stock worth $104,000 after buying an additional 6,215 shares during the period.

Several hedge funds have recently modified their holdings of TOO.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Stock Observer and is owned by of Stock Observer. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and worldwide trademark and copyright legislation.

Teekay Corporation (Teekay), launched on February 9, 1979, is a provider of crude oil and gas marine transportation services. The Firm also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company's fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.

Like this: