ValuEngine upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, ValuEngine reports.
A number of other equities analysts also recently issued reports on the company. TheStreet downgraded Golar LNG Partners from a c rating to a d+ rating in a research note on Friday, June 7th. BidaskClub upgraded Golar LNG Partners from a sell rating to a hold rating in a research note on Friday, June 28th. Finally, Zacks Investment Research downgraded Golar LNG Partners from a buy rating to a sell rating in a research note on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Golar LNG Partners has a consensus rating of Hold and an average target price of $13.83.
Shares of Golar LNG Partners stock traded down $0.23 on Thursday, reaching $11.70. The company’s stock had a trading volume of 281,455 shares, compared to its average volume of 139,452. The company has a market cap of $838.65 million, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The company’s fifty day moving average price is $11.50. Golar LNG Partners has a 52 week low of $10.23 and a 52 week high of $16.86. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 1.85.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Tuesday, May 21st. The shipping company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $68.05 million during the quarter, compared to the consensus estimate of $70.94 million. Golar LNG Partners had a return on equity of 10.05% and a net margin of 12.69%. As a group, analysts expect that Golar LNG Partners will post 0.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be paid a $0.404 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 13.81%. Golar LNG Partners’s dividend payout ratio (DPR) is currently 154.29%.
Hedge funds have recently added to or reduced their stakes in the company. Lavaca Capital LLC purchased a new position in shares of Golar LNG Partners in the 1st quarter worth $39,000. SeaBridge Investment Advisors LLC lifted its position in Golar LNG Partners by 50.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock valued at $77,000 after purchasing an additional 2,000 shares in the last quarter. Regent Investment Management LLC purchased a new position in Golar LNG Partners during the first quarter valued at $142,000. Deutsche Bank AG lifted its position in Golar LNG Partners by 1,099.7% during the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 10,997 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Golar LNG Partners during the second quarter valued at $174,000. Hedge funds and other institutional investors own 32.68% of the company’s stock.
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 March 15, 2019, 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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