Golar LNG Partners (GMLP) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other analysts have also weighed in on the stock. DNB Markets lowered shares of Golar LNG Partners from a hold rating to a sell rating in a research report on Wednesday, September 5th. B. Riley started coverage on shares of Golar LNG Partners in a research report on Wednesday, September 5th. They issued a neutral rating and a $17.00 target price on the stock. Zacks Investment Research upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a research report on Tuesday, August 21st. Deutsche Bank started coverage on shares of Golar LNG Partners in a research report on Wednesday, October 10th. They issued a hold rating and a $14.00 target price on the stock. Finally, Citigroup cut their target price on shares of Golar LNG Partners from $17.00 to $14.00 and set a neutral rating on the stock in a research report on Tuesday, September 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. Golar LNG Partners has an average rating of Hold and a consensus target price of $18.75.

NASDAQ GMLP opened at $14.39 on Tuesday. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.65. The company has a market cap of $1.06 billion, a P/E ratio of 7.65, a PEG ratio of 1.89 and a beta of 0.91. Golar LNG Partners has a 1 year low of $12.71 and a 1 year high of $23.46.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.36. Golar LNG Partners had a net margin of 26.85% and a return on equity of 13.60%. Equities analysts expect that Golar LNG Partners will post 1 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a dividend of $0.404 per share. This represents a $1.62 annualized dividend and a dividend yield of 11.23%. The ex-dividend date is Tuesday, November 6th. Golar LNG Partners’s payout ratio is currently 86.17%.

Several hedge funds have recently added to or reduced their stakes in the company. Arrow Investment Advisors LLC raised its stake in shares of Golar LNG Partners by 12.6% during the third quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock valued at $447,000 after acquiring an additional 3,500 shares during the last quarter. Peak Asset Management LLC raised its stake in shares of Golar LNG Partners by 9.7% during the third quarter. Peak Asset Management LLC now owns 41,610 shares of the shipping company’s stock valued at $596,000 after acquiring an additional 3,680 shares during the last quarter. Wasatch Advisors Inc. raised its stake in shares of Golar LNG Partners by 13.2% during the second quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock valued at $530,000 after acquiring an additional 4,000 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Golar LNG Partners by 28.4% during the second quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Golar LNG Partners by 11.6% during the first quarter. Northern Trust Corp now owns 51,751 shares of the shipping company’s stock valued at $885,000 after acquiring an additional 5,370 shares during the last quarter. 39.28% of the stock is owned by hedge funds and other institutional investors.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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