Clearbridge Investments LLC cut its position in shares of Hoegh LNG Partners LP (NYSE:HMLP) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 858,541 shares of the shipping company’s stock after selling 18,020 shares during the quarter. Clearbridge Investments LLC owned 4.34% of Hoegh LNG Partners worth $16,012,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Huber Capital Management LLC raised its holdings in Hoegh LNG Partners by 35.9% in the 4th quarter. Huber Capital Management LLC now owns 1,022,957 shares of the shipping company’s stock valued at $19,078,000 after acquiring an additional 270,488 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Hoegh LNG Partners by 64.1% in the 4th quarter. Renaissance Technologies LLC now owns 228,300 shares of the shipping company’s stock valued at $4,258,000 after purchasing an additional 89,200 shares during the last quarter. Nwam LLC increased its stake in shares of Hoegh LNG Partners by 24.8% in the 4th quarter. Nwam LLC now owns 63,185 shares of the shipping company’s stock valued at $1,178,000 after purchasing an additional 12,546 shares during the last quarter. Taylor Frigon Capital Management LLC bought a new position in shares of Hoegh LNG Partners in the 4th quarter valued at $1,016,000. Finally, M&T Bank Corp bought a new position in shares of Hoegh LNG Partners in the 4th quarter valued at $812,000. Hedge funds and other institutional investors own 60.71% of the company’s stock.
HMLP has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on Hoegh LNG Partners from $20.50 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Zacks Investment Research downgraded Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Bank of America dropped their price target on Hoegh LNG Partners from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 2nd. Finally, ValuEngine downgraded Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.60.
Shares of NYSE:HMLP traded up $0.35 during trading on Friday, hitting $17.20. 313,823 shares of the company were exchanged, compared to its average volume of 192,329. The company has a market cap of $333.18, a P/E ratio of 12.65, a P/E/G ratio of 0.82 and a beta of 0.93. Hoegh LNG Partners LP has a 52-week low of $15.32 and a 52-week high of $20.65. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.73 and a quick ratio of 0.72.
Hoegh LNG Partners (NYSE:HMLP) last issued its quarterly earnings data on Wednesday, February 28th. The shipping company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.23. Hoegh LNG Partners had a return on equity of 10.71% and a net margin of 33.99%. The company had revenue of $37.60 million for the quarter, compared to the consensus estimate of $36.21 million. The company’s revenue for the quarter was up 61.4% compared to the same quarter last year. analysts expect that Hoegh LNG Partners LP will post 1.53 earnings per share for the current fiscal year.
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Hoegh LNG Partners Company Profile
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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