B. Riley assumed coverage on shares of Golar LNG Partners (NASDAQ:GMLP) in a report issued on Thursday, MarketBeat reports. The brokerage issued a hold rating and a $23.00 price objective on the shipping company’s stock.
Other equities analysts have also issued research reports about the company. BidaskClub raised Golar LNG Partners from a sell rating to a hold rating in a research note on Wednesday, May 2nd. ValuEngine lowered Golar LNG Partners from a buy rating to a hold rating in a research note on Friday, February 2nd. Seaport Global Securities reissued a hold rating and issued a $21.00 target price on shares of Golar LNG Partners in a research note on Tuesday, February 27th. Zacks Investment Research lowered Golar LNG Partners from a hold rating to a sell rating in a research note on Thursday, March 1st. Finally, Bank of America cut their target price on Golar LNG Partners from $26.00 to $24.00 and set a buy rating on the stock in a research note on Monday, March 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Golar LNG Partners currently has a consensus rating of Hold and an average target price of $23.50.
Shares of Golar LNG Partners traded down $0.03, hitting $20.47, during trading hours on Thursday, according to MarketBeat. 84,043 shares of the stock traded hands, compared to its average volume of 338,275. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 1.93. Golar LNG Partners has a 1-year low of $20.65 and a 1-year high of $20.88. The firm has a market capitalization of $1.43 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.20 and a beta of 0.89.
Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.10. Golar LNG Partners had a return on equity of 17.99% and a net margin of 29.85%. The firm had revenue of $90.11 million for the quarter, compared to analyst estimates of $87.09 million. analysts anticipate that Golar LNG Partners will post 1.16 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Monday, May 7th were given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date of this dividend was Friday, May 4th. Golar LNG Partners’s dividend payout ratio is currently 122.87%.
Golar LNG Partners announced that its board has approved a share buyback program on Monday, March 5th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the shipping company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in shares of Golar LNG Partners during the first quarter worth about $1,866,000. Koch Industries Inc. raised its position in shares of Golar LNG Partners by 88.3% during the first quarter. Koch Industries Inc. now owns 19,774 shares of the shipping company’s stock worth $338,000 after purchasing an additional 9,275 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Golar LNG Partners during the first quarter worth about $1,399,000. BNP Paribas Arbitrage SA raised its position in shares of Golar LNG Partners by 58.1% during the first quarter. BNP Paribas Arbitrage SA now owns 11,810 shares of the shipping company’s stock worth $202,000 after purchasing an additional 4,342 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Golar LNG Partners by 21.0% during the first quarter. JPMorgan Chase & Co. now owns 965,708 shares of the shipping company’s stock worth $16,523,000 after purchasing an additional 167,615 shares during the period. 44.12% of the stock is currently owned by institutional investors.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs), liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company also engages in the leasing of its fleets.
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