Analysts Expect Teekay Offshore Partners L.P. (TOO) to Announce $0.25 EPS

Analysts expect Teekay Offshore Partners L.P. (NYSE:TOO) to report earnings of $0.25 per share for the current quarter, according to Zacks. Two analysts have issued estimates for Teekay Offshore Partners’ earnings, with estimates ranging from $0.23 to $0.27. Teekay Offshore Partners posted earnings per share of $0.01 in the same quarter last year, which suggests a positive year over year growth rate of 2,400%. The business is scheduled to issue its next earnings results on Thursday, February 28th.

According to Zacks, analysts expect that Teekay Offshore Partners will report full year earnings of ($0.19) per share for the current year. For the next year, analysts expect that the business will post earnings of $0.05 per share, with EPS estimates ranging from ($0.17) to $0.26. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Teekay Offshore Partners.

A number of equities analysts have commented on TOO shares. ValuEngine cut shares of Teekay Offshore Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research raised shares of Teekay Offshore Partners from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 26th.

TOO stock traded up $0.06 during trading on Wednesday, reaching $1.72. The company had a trading volume of 8,400 shares, compared to its average volume of 438,159. Teekay Offshore Partners has a 52 week low of $1.62 and a 52 week high of $3.12. The company has a market cap of $680.67 million, a P/E ratio of 169.00 and a beta of 2.37. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.52 and a quick ratio of 0.52.

The company also recently declared a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, November 2nd were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, November 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.33%. Teekay Offshore Partners’s dividend payout ratio is presently 400.00%.

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP purchased a new position in shares of Teekay Offshore Partners during the 2nd quarter worth about $148,000. Natixis raised its position in Teekay Offshore Partners by 40.0% during the second quarter. Natixis now owns 70,000 shares of the shipping company’s stock worth $185,000 after acquiring an additional 20,000 shares during the period. California Public Employees Retirement System raised its position in Teekay Offshore Partners by 31.3% during the second quarter. California Public Employees Retirement System now owns 95,986 shares of the shipping company’s stock worth $253,000 after acquiring an additional 22,886 shares during the period. GSA Capital Partners LLP raised its position in Teekay Offshore Partners by 159.7% during the second quarter. GSA Capital Partners LLP now owns 139,394 shares of the shipping company’s stock worth $368,000 after acquiring an additional 85,711 shares during the period. Finally, JPMorgan Chase & Co. raised its position in Teekay Offshore Partners by 44.8% during the third quarter. JPMorgan Chase & Co. now owns 647,608 shares of the shipping company’s stock worth $1,515,000 after acquiring an additional 200,315 shares during the period. 76.01% of the stock is owned by hedge funds and other institutional investors.

Teekay Offshore Partners Company Profile

Teekay Offshore Partners L.P. provides marine transportation, oil production, storage, long-distance towing and offshore installation, and maintenance and safety services for the oil industry. It operates in six segments: Floating Production, Storage and Offloading (FPSO); Shuttle Tanker; Floating Storage and Off-Take (FSO); Unit for Maintenance and Safety (UMS); Towage; and Conventional Tanker.

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