Golar LNG Partners (GMLP) PT Set at $17.00 by B. Riley

Golar LNG Partners (NASDAQ:GMLP) has been given a $17.00 target price by equities researchers at B. Riley in a note issued to investors on Tuesday. The firm presently has a “hold” rating on the shipping company’s stock. B. Riley’s price objective points to a potential upside of 18.88% from the company’s current price.

GMLP has been the topic of several other reports. ValuEngine upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. BidaskClub lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Citigroup lowered their target price on shares of Golar LNG Partners from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 25th. Berenberg Bank initiated coverage on shares of Golar LNG Partners in a research report on Thursday, September 6th. They set a “hold” rating and a $13.00 target price on the stock. Finally, Deutsche Bank initiated coverage on shares of Golar LNG Partners in a research report on Wednesday, October 10th. They set a “hold” rating and a $14.00 target price on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.75.

Shares of Golar LNG Partners stock traded down $1.02 on Tuesday, reaching $14.30. 396,809 shares of the stock were exchanged, compared to its average volume of 373,013. Golar LNG Partners has a 1-year low of $12.71 and a 1-year high of $23.46. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.65. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.36. Golar LNG Partners had a net margin of 26.85% and a return on equity of 13.60%. Equities research analysts anticipate that Golar LNG Partners will post 0.91 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Golar LNG Partners by 52.8% in the second quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock valued at $106,527,000 after purchasing an additional 2,379,700 shares in the last quarter. Huber Capital Management LLC lifted its holdings in shares of Golar LNG Partners by 11.5% in the second quarter. Huber Capital Management LLC now owns 1,923,569 shares of the shipping company’s stock valued at $29,738,000 after purchasing an additional 198,135 shares in the last quarter. Global X Management Co LLC purchased a new stake in shares of Golar LNG Partners in the second quarter valued at about $6,948,000. First Trust Advisors LP lifted its holdings in shares of Golar LNG Partners by 15.2% in the second quarter. First Trust Advisors LP now owns 442,355 shares of the shipping company’s stock valued at $6,839,000 after purchasing an additional 58,251 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of Golar LNG Partners by 34.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 195,000 shares of the shipping company’s stock valued at $2,794,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors own 39.28% of the company’s stock.

About Golar LNG Partners

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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