Wall Street brokerages expect Hoegh LNG Partners LP (NYSE:HMLP) to post $32.49 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Hoegh LNG Partners’ earnings, with the lowest sales estimate coming in at $29.20 million and the highest estimate coming in at $35.77 million. Hoegh LNG Partners reported sales of $23.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 39.4%. The business is scheduled to issue its next earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that Hoegh LNG Partners will report full year sales of $32.49 million for the current year, with estimates ranging from $116.70 million to $141.73 million. For the next year, analysts forecast that the company will report sales of $140.50 million per share, with estimates ranging from $124.80 million to $155.76 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Hoegh LNG Partners.
Several equities research analysts have issued reports on HMLP shares. Zacks Investment Research cut shares of Hoegh LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 24th. BidaskClub cut shares of Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 14th. Finally, ValuEngine raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Hoegh LNG Partners currently has a consensus rating of “Buy” and a consensus price target of $21.50.
Shares of Hoegh LNG Partners (NYSE:HMLP) traded down $0.10 on Friday, reaching $18.65. 55,869 shares of the company’s stock traded hands, compared to its average volume of 58,812. Hoegh LNG Partners has a 52 week low of $16.90 and a 52 week high of $20.65. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.63 and a current ratio of 0.64. The firm has a market cap of $617.27, a PE ratio of 9.71, a PEG ratio of 0.85 and a beta of 0.93.
Hedge funds have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Hoegh LNG Partners by 2.5% during the 2nd quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after acquiring an additional 35,806 shares during the last quarter. Bard Associates Inc. acquired a new position in shares of Hoegh LNG Partners during the 2nd quarter valued at about $321,000. Stifel Financial Corp boosted its position in shares of Hoegh LNG Partners by 3.3% during the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after acquiring an additional 591 shares during the last quarter. Finally, Acrospire Investment Management LLC boosted its position in shares of Hoegh LNG Partners by 341.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 4,037 shares during the last quarter. 64.13% of the stock is currently owned by hedge funds and other institutional investors.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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