Golar LNG Partners LP (NASDAQ:GMLP) reached a new 52-week low during trading on Wednesday . The company traded as low as $18.29 and last traded at $18.24, with a volume of 433786 shares trading hands. The stock had previously closed at $18.55.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. BidaskClub lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. ValuEngine lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Stifel Nicolaus raised Golar LNG Partners from a “hold” rating to a “buy” rating and increased their price target for the company from $23.00 to $25.00 in a research report on Monday, December 18th. Finally, Jefferies Group assumed coverage on Golar LNG Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $26.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.60.
The firm has a market capitalization of $1,329.16, a P/E ratio of 9.70, a PEG ratio of 1.78 and a beta of 0.92. The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 1.63.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Monday, December 11th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $105.64 million during the quarter, compared to the consensus estimate of $96.00 million. Golar LNG Partners had a net margin of 29.85% and a return on equity of 17.19%. sell-side analysts predict that Golar LNG Partners LP will post 1.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were paid a $0.5775 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $2.31 dividend on an annualized basis and a yield of 12.73%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 123.53%.
Golar LNG Partners declared that its Board of Directors has initiated a share repurchase plan on Monday, March 5th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the shipping company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently made changes to their positions in GMLP. Alliancebernstein L.P. grew its stake in Golar LNG Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock valued at $205,000 after purchasing an additional 572 shares during the period. Northern Trust Corp grew its stake in Golar LNG Partners by 15.6% in the 2nd quarter. Northern Trust Corp now owns 62,288 shares of the shipping company’s stock valued at $1,249,000 after purchasing an additional 8,405 shares during the period. Alps Advisors Inc. bought a new position in Golar LNG Partners in the 3rd quarter valued at $500,000. BNP Paribas Arbitrage SA bought a new position in Golar LNG Partners in the 3rd quarter valued at $108,000. Finally, Arrow Investment Advisors LLC grew its stake in Golar LNG Partners by 17.0% in the 3rd quarter. Arrow Investment Advisors LLC now owns 36,356 shares of the shipping company’s stock valued at $845,000 after purchasing an additional 5,270 shares during the period. Hedge funds and other institutional investors own 44.01% of the company’s stock.
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About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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