Analysts Anticipate Hoegh LNG Partners LP (HMLP) Will Post Earnings of $0.45 Per Share

Wall Street analysts expect Hoegh LNG Partners LP (NYSE:HMLP) to post earnings of $0.45 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Hoegh LNG Partners’ earnings. The lowest EPS estimate is $0.41 and the highest is $0.49. Hoegh LNG Partners posted earnings of $0.08 per share during the same quarter last year, which suggests a positive year over year growth rate of 462.5%. The firm is scheduled to announce its next earnings results on Thursday, November 15th.

According to Zacks, analysts expect that Hoegh LNG Partners will report full-year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.72. For the next fiscal year, analysts expect that the company will post earnings of $2.00 per share, with EPS estimates ranging from $1.73 to $2.27. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Hoegh LNG Partners.

Hoegh LNG Partners (NYSE:HMLP) last released its earnings results on Thursday, August 23rd. The shipping company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.13. The business had revenue of $36.61 million for the quarter, compared to analysts’ expectations of $36.19 million. Hoegh LNG Partners had a net margin of 46.62% and a return on equity of 14.66%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share.

A number of research analysts have weighed in on the stock. Barclays cut shares of Hoegh LNG Partners from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Friday. Zacks Investment Research raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday. ValuEngine raised shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. Berenberg Bank assumed coverage on shares of Hoegh LNG Partners in a research report on Thursday, September 6th. They set a “hold” rating and a $19.00 price target on the stock. Finally, B. Riley assumed coverage on shares of Hoegh LNG Partners in a research report on Wednesday, September 5th. They set a “buy” rating and a $21.00 price target on the stock. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hoegh LNG Partners presently has a consensus rating of “Hold” and an average target price of $19.83.

HMLP stock traded up $0.07 during midday trading on Friday, reaching $17.66. 182,181 shares of the company’s stock traded hands, compared to its average volume of 130,359. The stock has a market cap of $607.09 million, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.77 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.10. Hoegh LNG Partners has a fifty-two week low of $15.32 and a fifty-two week high of $19.85.

A number of hedge funds have recently made changes to their positions in HMLP. Millennium Management LLC lifted its position in Hoegh LNG Partners by 565.4% during the first quarter. Millennium Management LLC now owns 324,726 shares of the shipping company’s stock valued at $5,261,000 after buying an additional 275,921 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Hoegh LNG Partners by 44.6% during the second quarter. Renaissance Technologies LLC now owns 476,500 shares of the shipping company’s stock valued at $8,553,000 after purchasing an additional 147,000 shares during the period. California Public Employees Retirement System raised its stake in shares of Hoegh LNG Partners by 215.1% during the first quarter. California Public Employees Retirement System now owns 117,200 shares of the shipping company’s stock valued at $1,899,000 after purchasing an additional 80,000 shares during the period. Green Square Capital LLC raised its stake in shares of Hoegh LNG Partners by 42.3% during the second quarter. Green Square Capital LLC now owns 144,309 shares of the shipping company’s stock valued at $2,590,000 after purchasing an additional 42,876 shares during the period. Finally, FMR LLC raised its stake in shares of Hoegh LNG Partners by 1.8% during the second quarter. FMR LLC now owns 1,975,906 shares of the shipping company’s stock valued at $35,468,000 after purchasing an additional 34,900 shares during the period. 27.03% of the stock is currently owned by hedge funds and other institutional investors.

Hoegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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