Teekay Lng Partners, L.P. (NYSE:TGP) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $17.00.
A number of research firms have recently commented on TGP. TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Thursday. ValuEngine downgraded shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC increased its holdings in shares of Teekay Lng Partners by 109.4% during the first quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock worth $25,000 after purchasing an additional 853 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Teekay Lng Partners in the first quarter valued at approximately $30,000. Whittier Trust Co. acquired a new stake in Teekay Lng Partners in the first quarter valued at approximately $34,000. Destination Wealth Management acquired a new stake in Teekay Lng Partners in the first quarter valued at approximately $38,000. Finally, Icon Wealth Partners LLC acquired a new stake in Teekay Lng Partners in the first quarter valued at approximately $40,000. 29.02% of the stock is currently owned by institutional investors.
Shares of TGP traded down $0.71 during trading hours on Wednesday, reaching $14.01. The stock had a trading volume of 9,141 shares, compared to its average volume of 178,267. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.99. Teekay Lng Partners has a 52 week low of $10.74 and a 52 week high of $17.50. The company’s 50-day moving average is $14.46. The company has a market cap of $1.11 billion, a P/E ratio of 18.39 and a beta of 1.50.
Teekay Lng Partners (NYSE:TGP) last announced its 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 firm 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 12.72% and a return on equity of 7.07%. The firm’s revenue was up 25.2% on a year-over-year basis. Equities analysts forecast that Teekay Lng Partners will post 1.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $0.76 annualized dividend and a yield of 5.42%. Teekay Lng Partners’s dividend payout ratio is currently 100.00%.
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 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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