Traders Purchase High Volume of Put Options on Teekay LNG Partners (NYSE:TGP)

Teekay LNG Partners L.P. (NYSE:TGP) was the recipient of some unusual options trading on Tuesday. Stock traders bought 10,096 put options on the company. This represents an increase of approximately 10,756% compared to the typical daily volume of 93 put options.

A number of research firms have commented on TGP. ValuEngine upgraded Teekay LNG Partners from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price target on shares of Teekay LNG Partners in a research report on Friday, October 13th. Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. Jefferies Group began coverage on Teekay LNG Partners in a research report on Monday, December 18th. They issued a “hold” rating and a $18.00 price target on the stock. Finally, UBS Group reduced their price target 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 research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.00.

Shares of Teekay LNG Partners (NYSE TGP) traded up $0.60 during trading hours on Friday, hitting $21.25. The stock had a trading volume of 336,602 shares, compared to its average volume of 262,422. The firm has a market cap of $1,690.00, a P/E ratio of 25.60 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. Teekay LNG Partners has a 12 month low of $14.05 and a 12 month high of $21.40.

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Thursday, February 1st. Teekay LNG Partners’s dividend payout ratio is 67.47%.

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in shares of Teekay LNG Partners by 13.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,500,726 shares of the shipping company’s stock valued at $38,386,000 after purchasing an additional 295,184 shares during the period. Thornburg Investment Management Inc. raised its stake in Teekay LNG Partners by 10.6% during the 3rd quarter. Thornburg Investment Management Inc. now owns 1,998,147 shares of the shipping company’s stock worth $35,567,000 after buying an additional 191,807 shares during the period. ING Groep NV acquired a new position in Teekay LNG Partners during the 3rd quarter worth approximately $10,217,000. Icon Advisers Inc. Co. raised its stake in Teekay LNG Partners by 9.5% during the 2nd quarter. Icon Advisers Inc. Co. now owns 556,207 shares of the shipping company’s stock worth $8,538,000 after buying an additional 48,200 shares during the period. Finally, Airain ltd raised its stake in Teekay LNG Partners by 14.9% during the 2nd quarter. Airain ltd now owns 167,745 shares of the shipping company’s stock worth $2,575,000 after buying an additional 21,699 shares during the period. 36.00% of the stock is currently owned by institutional investors.

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Teekay LNG Partners Company Profile

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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