Shares of Golar LNG Partners (NASDAQ:GMLP) have received an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $23.60.
Several equities research analysts have recently commented on GMLP shares. Bank of America reduced their price objective on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, March 5th. Stifel Nicolaus upgraded Golar LNG Partners from a “hold” rating to a “buy” rating and upped their price objective for the stock from $23.00 to $25.00 in a research note on Monday, December 18th. Jefferies Group started coverage on Golar LNG Partners in a research note on Monday, December 18th. They issued a “buy” rating and a $26.00 price objective for the company. BidaskClub upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Friday, February 9th. Finally, Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 5th.
A number of hedge funds have recently modified their holdings of GMLP. SeaCrest Wealth Management LLC bought a new position in shares of Golar LNG Partners during the 4th quarter valued at about $107,000. BNP Paribas Arbitrage SA bought a new position in shares of Golar LNG Partners during the 3rd quarter valued at about $108,000. Cetera Advisors LLC bought a new position in shares of Golar LNG Partners during the 4th quarter valued at about $201,000. Koch Industries Inc. bought a new position in shares of Golar LNG Partners during the 4th quarter valued at about $239,000. Finally, Jane Street Group LLC bought a new position in shares of Golar LNG Partners during the 3rd quarter valued at about $344,000. Institutional investors and hedge funds own 43.99% of the company’s stock.
GMLP traded down $0.23 during mid-day trading on Friday, reaching $17.46. 161,411 shares of the company traded hands, compared to its average volume of 357,339. The firm has a market cap of $1,235.18, a PE ratio of 9.29, a P/E/G ratio of 1.66 and a beta of 0.91. The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 1.63. Golar LNG Partners has a 52-week low of $16.78 and a 52-week high of $23.49.
Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Wednesday, February 28th. The shipping company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. The business had revenue of $90.11 million during the quarter, compared to analyst estimates of $87.09 million. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%. research analysts forecast that Golar LNG Partners will post 1.16 EPS for the current fiscal year.
Golar LNG Partners announced that its Board of Directors has initiated a share buyback program on Monday, March 5th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the shipping company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
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About Golar LNG Partners
Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.
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