Teekay Lng Partners, L.P. (NYSE:TGP) shares saw unusually-high trading volume on Wednesday . Approximately 717,039 shares were traded during trading, an increase of 205% from the previous session’s volume of 235,256 shares.The stock last traded at $14.95 and had previously closed at $14.50.
TGP has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 7th. ValuEngine downgraded shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Teekay Lng Partners currently has a consensus rating of “Hold” and a consensus price target of $17.00.
The firm’s 50-day moving average is $14.64 and its 200 day moving average is $14.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 19.67 and a beta of 1.50.
Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $155.70 million. The business’s revenue was up 25.2% on a year-over-year basis. Analysts predict that Teekay Lng Partners, L.P. will post 1.79 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.76 annualized dividend and a yield of 5.08%. Teekay Lng Partners’s payout ratio is 100.00%.
A number of institutional investors have recently added to or reduced their stakes in TGP. Invesco Ltd. raised its holdings in Teekay Lng Partners by 2,014.5% during the 2nd quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock worth $29,529,000 after purchasing an additional 1,995,219 shares during the last quarter. Thornburg Investment Management Inc. raised its holdings in Teekay Lng Partners by 18.8% during the 1st quarter. Thornburg Investment Management Inc. now owns 3,794,476 shares of the shipping company’s stock worth $56,765,000 after purchasing an additional 601,453 shares during the last quarter. Beach Investment Counsel Inc. PA raised its holdings in Teekay Lng Partners by 85.7% during the 1st quarter. Beach Investment Counsel Inc. PA now owns 1,236,547 shares of the shipping company’s stock worth $18,499,000 after purchasing an additional 570,588 shares during the last quarter. O Keefe Stevens Advisory Inc. bought a new position in Teekay Lng Partners during the 2nd quarter worth approximately $2,320,000. Finally, Bank of Montreal Can raised its holdings in Teekay Lng Partners by 121.8% during the 2nd quarter. Bank of Montreal Can now owns 241,270 shares of the shipping company’s stock worth $3,402,000 after purchasing an additional 132,500 shares during the last quarter. Hedge funds and other institutional investors own 27.95% of the company’s stock.
Teekay Lng Partners Company Profile (NYSE:TGP)
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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