Perella Weinberg Partners (NASDAQ:PWP) to Issue Quarterly Dividend of $0.07

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.07 per share on Monday, March 10th. This represents a $0.28 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, February 18th.

Perella Weinberg Partners has raised its dividend payment by an average of 26.0% annually over the last three years. Perella Weinberg Partners has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock traded down $0.26 on Thursday, reaching $22.77. 645,510 shares of the company were exchanged, compared to its average volume of 720,507. The stock's 50 day moving average price is $24.48 and its 200-day moving average price is $22.12. The company has a market cap of $2.01 billion, a P/E ratio of -9.61 and a beta of 1.59. Perella Weinberg Partners has a 1-year low of $11.68 and a 1-year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.