ValuEngine downgraded shares of Teekay Lng Partners (NYSE:TGP) from a hold rating to a sell rating in a research report report published on Friday morning.
TGP has been the topic of several other reports. Deutsche Bank started coverage on Teekay Lng Partners in a report on Wednesday, October 10th. They set a hold rating and a $17.00 target price on the stock. Zacks Investment Research upgraded Teekay Lng Partners from a strong sell rating to a hold rating in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $19.25.
NYSE TGP opened at $15.11 on Friday. Teekay Lng Partners has a fifty-two week low of $13.91 and a fifty-two week high of $21.65. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.46 and a current ratio of 0.46. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 15.11 and a beta of 1.33.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, November 2nd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, November 1st. Teekay Lng Partners’s dividend payout ratio is currently 56.00%.
Several large investors have recently modified their holdings of TGP. Wells Fargo & Company MN grew its position in shares of Teekay Lng Partners by 17.3% in the first quarter. Wells Fargo & Company MN now owns 199,279 shares of the shipping company’s stock valued at $3,567,000 after purchasing an additional 29,344 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Teekay Lng Partners by 5.6% in the first quarter. Guggenheim Capital LLC now owns 196,586 shares of the shipping company’s stock valued at $3,519,000 after purchasing an additional 10,466 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Teekay Lng Partners in the second quarter valued at about $546,000. ACG Wealth acquired a new stake in shares of Teekay Lng Partners in the second quarter valued at about $1,180,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Teekay Lng Partners in the second quarter valued at about $608,000. 34.77% of the stock is currently owned by institutional investors.
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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