Golar LNG Partners LP (NASDAQ:GMLP) – Analysts at Jefferies Financial Group lifted their FY2018 earnings per share estimates for shares of Golar LNG Partners in a note issued to investors on Monday, November 5th. Jefferies Financial Group analyst R. Giveans now forecasts that the shipping company will post earnings of $1.10 per share for the year, up from their previous estimate of $0.90.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings results on Monday, November 5th. The shipping company reported $0.70 EPS for the quarter, beating the Zacks’ 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%.
A number of other brokerages have also commented on GMLP. B. Riley set a $17.00 price target on shares of Golar LNG Partners and gave the company a “hold” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Citigroup decreased their price target on shares of Golar LNG Partners from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, July 31st. ValuEngine downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Finally, BidaskClub raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.75.
Shares of GMLP stock opened at $14.39 on Thursday. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.55 and a quick ratio of 0.54. Golar LNG Partners has a 12 month low of $12.71 and a 12 month high of $23.46.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.404 per share. This represents a $1.62 dividend on an annualized basis and a yield of 11.23%. The ex-dividend date is Tuesday, November 6th. Golar LNG Partners’s dividend payout ratio is 86.17%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. boosted its holdings in Golar LNG Partners by 28.4% during the 2nd quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock worth $293,000 after acquiring an additional 4,181 shares during the last quarter. Alps Advisors Inc. purchased a new position in Golar LNG Partners during the 2nd quarter worth $490,000. Old Port Advisors purchased a new position in shares of Golar LNG Partners in the 2nd quarter worth about $465,000. Arrow Investment Advisors LLC boosted its holdings in shares of Golar LNG Partners by 12.6% in the 3rd quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock worth $447,000 after buying an additional 3,500 shares during the last quarter. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Golar LNG Partners by 13.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock worth $530,000 after buying an additional 4,000 shares during the last quarter. 39.28% of the stock is currently owned by hedge funds and other institutional investors.
Golar LNG Partners Company Profile
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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