Zacks Investment Research Lowers Teekay Lng Partners (TGP) to Strong Sell

Zacks Investment Research downgraded shares of Teekay Lng Partners (NYSE:TGP) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. “

Several other analysts also recently issued reports on the stock. TheStreet downgraded shares of Teekay Lng Partners from a c rating to a d+ rating in a research note on Thursday, May 17th. ValuEngine raised shares of Teekay Lng Partners from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Stifel Nicolaus set a $20.00 target price on shares of Teekay Lng Partners and gave the company a hold rating in a research note on Friday, February 23rd. Citigroup boosted their target price on shares of Teekay Lng Partners from $15.00 to $19.00 and gave the company a neutral rating in a research note on Tuesday, February 13th. Finally, Morgan Stanley boosted their target price on shares of Teekay Lng Partners from $15.00 to $19.00 and gave the company an equal weight rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $20.00.

Shares of NYSE:TGP opened at $17.75 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.36 and a current ratio of 0.36. Teekay Lng Partners has a 12-month low of $14.05 and a 12-month high of $21.65. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 17.75 and a beta of 1.14.

Teekay Lng Partners (NYSE:TGP) last announced its earnings results on Thursday, May 17th. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Teekay Lng Partners had a net margin of 6.38% and a return on equity of 6.08%. The firm had revenue of $109.51 million for the quarter, compared to analyst estimates of $115.21 million. sell-side analysts forecast that Teekay Lng Partners will post 1.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Friday, May 4th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Thursday, May 3rd. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 56.00%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of Teekay Lng Partners by 18.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 934,499 shares of the shipping company’s stock worth $18,830,000 after acquiring an additional 146,514 shares during the last quarter. Goldentree Asset Management LP increased its stake in shares of Teekay Lng Partners by 22.2% in the fourth quarter. Goldentree Asset Management LP now owns 25,855 shares of the shipping company’s stock worth $521,000 after acquiring an additional 4,700 shares during the last quarter. ACG Wealth acquired a new position in shares of Teekay Lng Partners in the fourth quarter worth $1,402,000. Virtu Financial LLC acquired a new position in shares of Teekay Lng Partners in the fourth quarter worth $540,000. Finally, Bank of Montreal Can increased its stake in shares of Teekay Lng Partners by 2,533.9% in the fourth quarter. Bank of Montreal Can now owns 37,138 shares of the shipping company’s stock worth $749,000 after acquiring an additional 35,728 shares during the last quarter. 35.57% of the stock is currently owned by institutional investors and hedge funds.

Teekay Lng Partners Company Profile

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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Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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