Neuberger Berman Group LLC reduced its holdings in Teekay LNG Partners L.P. (NYSE:TGP) by 20.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,759,179 shares of the shipping company’s stock after selling 440,451 shares during the quarter. Neuberger Berman Group LLC owned about 2.21% of Teekay LNG Partners worth $31,313,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Icon Advisers Inc. Co. lifted its stake in shares of Teekay LNG Partners by 9.5% in the 2nd quarter. Icon Advisers Inc. Co. now owns 556,207 shares of the shipping company’s stock valued at $8,538,000 after purchasing an additional 48,200 shares during the period. Airain ltd lifted its stake in shares of Teekay LNG Partners by 14.9% in the 2nd quarter. Airain ltd now owns 167,745 shares of the shipping company’s stock valued at $2,575,000 after purchasing an additional 21,699 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Teekay LNG Partners in the 1st quarter valued at approximately $670,000. ING Groep NV purchased a new position in shares of Teekay LNG Partners in the 3rd quarter valued at approximately $10,217,000. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Teekay LNG Partners in the 3rd quarter valued at approximately $2,611,000. Hedge funds and other institutional investors own 36.00% of the company’s stock.
Teekay LNG Partners L.P. (NYSE:TGP) traded up $0.60 during mid-day trading on Friday, hitting $21.25. The stock had a trading volume of 336,602 shares, compared to its average volume of 262,422. Teekay LNG Partners L.P. has a 52-week low of $14.05 and a 52-week high of $21.40. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1,690.00, a PE ratio of 25.60 and a beta of 1.27.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, February 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, February 1st. Teekay LNG Partners’s dividend payout ratio is currently 67.47%.
A number of research analysts have recently commented on the company. UBS Group lowered their target price on Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 10th. ValuEngine upgraded Teekay LNG Partners from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 5th. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price objective on shares of Teekay LNG Partners in a research note on Friday, October 13th. Finally, Jefferies Group started coverage on Teekay LNG Partners in a research note on Monday, December 18th. They set a “hold” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.00.
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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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