Teekay Lng Partners (NYSE:TGP) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.
Shares of TGP traded down $0.18 during mid-day trading on Thursday, reaching $14.72. The stock had a trading volume of 162,862 shares, compared to its average volume of 161,184. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 19.37 and a beta of 1.50. Teekay Lng Partners has a 12 month low of $10.74 and a 12 month high of $17.50. The business’s fifty day moving average price is $14.46. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.89 and a current ratio of 0.89.
Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $153.10 million during the quarter, compared to analyst estimates of $155.70 million. Teekay Lng Partners had a net margin of 10.92% and a return on equity of 5.75%. Teekay Lng Partners’s revenue was up 25.2% on a year-over-year basis. As a group, equities analysts anticipate that Teekay Lng Partners will post 1.77 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. SeaBridge Investment Advisors LLC boosted its position in shares of Teekay Lng Partners by 16.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock worth $99,000 after acquiring an additional 1,000 shares during the last quarter. Citigroup Inc. boosted its position in shares of Teekay Lng Partners by 182.5% during the first quarter. Citigroup Inc. now owns 110,298 shares of the shipping company’s stock worth $1,650,000 after acquiring an additional 71,259 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Teekay Lng Partners during the first quarter worth $34,000. FMR LLC boosted its position in shares of Teekay Lng Partners by 3.4% during the fourth quarter. FMR LLC now owns 7,970,001 shares of the shipping company’s stock worth $87,829,000 after acquiring an additional 260,528 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA boosted its position in shares of Teekay Lng Partners by 85.7% during the first quarter. Beach Investment Counsel Inc. PA now owns 1,236,547 shares of the shipping company’s stock worth $18,499,000 after acquiring an additional 570,588 shares during the last quarter. Hedge funds and other institutional investors own 29.02% of the company’s stock.
About Teekay Lng Partners
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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