Flex Lng said on May 16, 2023 that its board of directors declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Previously, the company paid $0.25 per share.
Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 13, 2023.
At the current share price of $30.49 / share, the stock's dividend yield is 9.84%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.89%, the lowest has been 2.75%, and the highest has been 27.10%. The standard deviation of yields is 5.74 (n=186).
The current dividend yield is 0.17 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 1.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 304 funds or institutions reporting positions in Flex Lng. This is an increase of 22 owner(s) or 7.80% in the last quarter. Average portfolio weight of all funds dedicated to FLNG is 0.07%, a decrease of 6.45%. Total shares owned by institutions increased in the last three months by 0.70% to 10,655K shares. 
The put/call ratio of FLNG is 0.55, indicating a bullish outlook.
Analyst Price Forecast Suggests 14.65% Upside
As of May 11, 2023, the average one-year price target for Flex Lng is 34.96. The forecasts range from a low of 29.57 to a high of $38.68. The average price target represents an increase of 14.65% from its latest reported closing price of 30.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Flex Lng is 380MM. The projected annual non-GAAP EPS is 3.02.
What are Other Shareholders Doing?
Folketrygdfondet holds 990K shares representing 1.84% ownership of the company. In it's prior filing, the firm reported owning 985K shares, representing an increase of 0.47%. The firm increased its portfolio allocation in FLNG by 115,413.79% over the last quarter.
IWM - iShares Russell 2000 ETF holds 658K shares representing 1.23% ownership of the company. In it's prior filing, the firm reported owning 617K shares, representing an increase of 6.14%. The firm decreased its portfolio allocation in FLNG by 0.41% over the last quarter.
Janus Henderson Group holds 438K shares representing 0.82% ownership of the company. In it's prior filing, the firm reported owning 733K shares, representing a decrease of 67.40%. The firm decreased its portfolio allocation in FLNG by 81.51% over the last quarter.
VGTSX - Vanguard Total International Stock Index Fund Investor Shares holds 375K shares representing 0.70% ownership of the company. In it's prior filing, the firm reported owning 372K shares, representing an increase of 0.69%. The firm decreased its portfolio allocation in FLNG by 14.64% over the last quarter.
IWN - iShares Russell 2000 Value ETF holds 301K shares representing 0.56% ownership of the company. In it's prior filing, the firm reported owning 293K shares, representing an increase of 2.63%. The firm decreased its portfolio allocation in FLNG by 2.89% over the last quarter.
Flex Lng Background Information
(This description is provided by the company.)
FLEX LNG Ltd. is the owner and commercial operator of liquefied natural gas (LNG) carriers. The Company owns and operates approximately six M-type, Electronically Controlled, Gas Injection (MEGI) LNG carriers.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
