Wall Street analysts forecast that Teekay LNG Partners L.P. (NYSE:TGP) will report earnings of $0.33 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Teekay LNG Partners’ earnings, with the highest EPS estimate coming in at $0.35 and the lowest estimate coming in at $0.29. Teekay LNG Partners posted earnings of $0.22 per share in the same quarter last year, which would suggest a positive year over year growth rate of 50%. The firm is scheduled to issue its next earnings report on Thursday, May 17th.
According to Zacks, analysts expect that Teekay LNG Partners will report full year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.43 to $1.66. For the next financial year, analysts expect that the firm will post earnings of $2.34 per share, with EPS estimates ranging from $1.98 to $2.66. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Teekay LNG Partners.
Teekay LNG Partners (NYSE:TGP) last released its quarterly earnings results on Thursday, February 22nd. The shipping company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.03. Teekay LNG Partners had a return on equity of 5.97% and a net margin of 8.87%. The firm had revenue of $122.00 million for the quarter, compared to the consensus estimate of $111.54 million.
A number of equities analysts have issued reports on the stock. ValuEngine upgraded shares of Teekay LNG Partners from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group assumed coverage on shares of Teekay LNG Partners in a research report on Monday, December 18th. They issued a “hold” rating and a $18.00 price objective on the stock. Stifel Nicolaus set a $20.00 price objective on shares of Teekay LNG Partners and gave the company a “hold” rating in a research report on Friday, February 23rd. Morgan Stanley boosted their price objective on shares of Teekay LNG Partners from $15.00 to $19.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, Citigroup boosted their price objective on shares of Teekay LNG Partners from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of Teekay LNG Partners by 18.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 934,499 shares of the shipping company’s stock valued at $18,830,000 after purchasing an additional 146,514 shares during the last quarter. Goldentree Asset Management LP increased its holdings in Teekay LNG Partners by 22.2% during the fourth quarter. Goldentree Asset Management LP now owns 25,855 shares of the shipping company’s stock valued at $521,000 after buying an additional 4,700 shares during the last quarter. Spirit of America Management Corp NY increased its holdings in Teekay LNG Partners by 2.2% during the fourth quarter. Spirit of America Management Corp NY now owns 376,556 shares of the shipping company’s stock valued at $7,588,000 after buying an additional 8,100 shares during the last quarter. ACG Wealth purchased a new stake in Teekay LNG Partners during the fourth quarter valued at approximately $1,402,000. Finally, Virtu Financial LLC purchased a new stake in Teekay LNG Partners during the fourth quarter valued at approximately $540,000. 34.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TGP traded up $0.05 during midday trading on Thursday, hitting $18.30. The stock had a trading volume of 4,791 shares, compared to its average volume of 191,304. Teekay LNG Partners has a twelve month low of $14.05 and a twelve month high of $21.65. The company has a market capitalization of $1,449.21, a price-to-earnings ratio of 18.20 and a beta of 1.14. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.42 and a quick ratio of 0.32.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Stockholders of record on Friday, May 4th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, May 3rd. Teekay LNG Partners’s payout ratio is 56.00%.
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About Teekay LNG Partners
Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
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