Jefferies Group Begins Coverage on Teekay LNG Partners (TGP)

Jefferies Group assumed coverage on shares of Teekay LNG Partners (NYSE:TGP) in a research report report published on Monday, December 18th. The brokerage issued a hold rating and a $18.00 price objective on the shipping company’s stock.

A number of other analysts also recently commented on the company. Zacks Investment Research upgraded Teekay LNG Partners from a strong sell rating to a hold rating in a research report on Thursday, October 5th. Stifel Nicolaus reiterated a hold rating and set a $16.00 target price on shares of Teekay LNG Partners in a research report on Friday, October 13th. Finally, UBS Group reduced their price objective on Teekay LNG Partners from $26.00 to $24.00 and set a buy rating on the stock in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $18.00.

Shares of Teekay LNG Partners (NYSE:TGP) traded up $0.15 during mid-day trading on Monday, reaching $20.65. The company had a trading volume of 182,796 shares, compared to its average volume of 228,674. Teekay LNG Partners has a 52-week low of $14.05 and a 52-week high of $20.95. The firm has a market capitalization of $1,650.00, a price-to-earnings ratio of 24.88 and a beta of 1.27. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.32 and a quick ratio of 0.32.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, February 2nd will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, February 1st. Teekay LNG Partners’s dividend payout ratio (DPR) is 67.47%.

Hedge funds have recently modified their holdings of the company. ING Groep NV acquired a new position in shares of Teekay LNG Partners in the 3rd quarter worth $10,217,000. Toronto Dominion Bank raised its holdings in Teekay LNG Partners by 103.7% during the third quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock valued at $256,000 after buying an additional 403,411 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Teekay LNG Partners by 13.4% in the second quarter. JPMorgan Chase & Co. now owns 2,500,726 shares of the shipping company’s stock worth $38,386,000 after purchasing an additional 295,184 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of Teekay LNG Partners by 10.6% in the third quarter. Thornburg Investment Management Inc. now owns 1,998,147 shares of the shipping company’s stock worth $35,567,000 after purchasing an additional 191,807 shares during the period. Finally, HITE Hedge Asset Management LLC bought a new position in shares of Teekay LNG Partners in the third quarter worth about $2,611,000. Institutional investors own 36.00% of the company’s stock.

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About Teekay LNG Partners

Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. 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.

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