Wall Street analysts expect Teekay Lng Partners, L.P. (NYSE:TGP) to post $0.37 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Teekay Lng Partners’ earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.53. Teekay Lng Partners reported earnings per share of $0.23 during the same quarter last year, which suggests a positive year over year growth rate of 60.9%. The firm is scheduled to report its next earnings report on Thursday, November 8th.
According to Zacks, analysts expect that Teekay Lng Partners will report full-year earnings of $0.94 per share for the current fiscal year, with EPS estimates ranging from $0.82 to $1.07. For the next financial year, analysts anticipate that the business will post earnings of $2.10 per share, with EPS estimates ranging from $1.61 to $3.05. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings results on Thursday, August 2nd. The shipping company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.17). Teekay Lng Partners had a return on equity of 5.85% and a net margin of 10.11%. The business had revenue of $114.36 million for the quarter, compared to analyst estimates of $126.85 million.
A number of research firms have recently commented on TGP. Morgan Stanley lowered their price target on Teekay Lng Partners from $19.00 to $17.50 and set an “equal weight” rating for the company in a report on Wednesday, June 13th. Zacks Investment Research cut Teekay Lng Partners from a “hold” rating to a “sell” rating in a report on Thursday. Finally, ValuEngine raised Teekay Lng Partners from a “sell” rating to a “hold” rating in a report on Friday, September 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.70.
Shares of Teekay Lng Partners stock traded down $0.12 during trading on Tuesday, reaching $16.35. 407,484 shares of the company’s stock were exchanged, compared to its average volume of 226,926. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.46 and a current ratio of 0.46. Teekay Lng Partners has a 1-year low of $14.70 and a 1-year high of $21.65. The stock has a market capitalization of $1.33 billion, a P/E ratio of 16.35 and a beta of 1.19.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, November 2nd will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.56 dividend on an annualized basis and a yield of 3.43%. Teekay Lng Partners’s dividend payout ratio is currently 56.00%.
A number of hedge funds have recently modified their holdings of TGP. Wells Fargo & Company MN grew its position in Teekay Lng Partners by 17.3% during the 1st quarter. Wells Fargo & Company MN now owns 199,279 shares of the shipping company’s stock worth $3,567,000 after acquiring an additional 29,344 shares during the last quarter. JPMorgan Chase & Co. grew its position in Teekay Lng Partners by 4.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,082,039 shares of the shipping company’s stock worth $55,168,000 after acquiring an additional 137,370 shares during the last quarter. UBS Group AG grew its position in Teekay Lng Partners by 28.2% during the 1st quarter. UBS Group AG now owns 512,203 shares of the shipping company’s stock worth $9,168,000 after acquiring an additional 112,629 shares during the last quarter. Guggenheim Capital LLC grew its position in Teekay Lng Partners by 5.6% during the 1st quarter. Guggenheim Capital LLC now owns 196,586 shares of the shipping company’s stock worth $3,519,000 after acquiring an additional 10,466 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Teekay Lng Partners during the 2nd quarter worth $546,000. Institutional investors and hedge funds own 34.96% of the company’s stock.
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 two segments, Liquefied Gas and 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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