Wall Street brokerages expect Teekay Lng Partners, L.P. (NYSE:TGP) to post sales of $145.35 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Teekay Lng Partners’ earnings, with the lowest sales estimate coming in at $141.29 million and the highest estimate coming in at $148.64 million. Teekay Lng Partners reported sales of $109.51 million in the same quarter last year, which indicates a positive year-over-year growth rate of 32.7%. The business is scheduled to announce its next quarterly earnings report on Thursday, May 16th.
According to Zacks, analysts expect that Teekay Lng Partners will report full year sales of $608.84 million for the current year, with estimates ranging from $582.02 million to $623.70 million. For the next financial year, analysts anticipate that the company will report sales of $619.79 million, with estimates ranging from $591.95 million to $673.64 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Teekay Lng Partners had a net margin of 11.19% and a return on equity of 5.01%. The business had revenue of $143.28 million during the quarter, compared to analyst estimates of $138.17 million.
A number of equities research analysts have issued reports on the stock. ValuEngine upgraded shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. TheStreet lowered shares of Teekay Lng Partners from a “c” rating to a “d+” rating in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a report on Saturday, December 1st. Morgan Stanley upgraded shares of Teekay Lng Partners from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $17.50 to $16.00 in a report on Tuesday, January 22nd. Finally, Stifel Nicolaus upgraded shares of Teekay Lng Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, November 28th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $17.00.
A number of institutional investors have recently added to or reduced their stakes in the business. Valmark Advisers Inc. raised its holdings in Teekay Lng Partners by 12.5% during the 4th quarter. Valmark Advisers Inc. now owns 15,199 shares of the shipping company’s stock worth $167,000 after purchasing an additional 1,690 shares during the last quarter. Pinnacle Holdings LLC raised its holdings in Teekay Lng Partners by 2.6% during the 3rd quarter. Pinnacle Holdings LLC now owns 152,372 shares of the shipping company’s stock worth $2,545,000 after purchasing an additional 3,888 shares during the last quarter. Banco de Sabadell S.A raised its holdings in Teekay Lng Partners by 188.1% during the 3rd quarter. Banco de Sabadell S.A now owns 6,914 shares of the shipping company’s stock worth $112,000 after purchasing an additional 4,514 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Teekay Lng Partners during the 4th quarter worth approximately $116,000. Finally, Virtu Financial LLC bought a new position in Teekay Lng Partners during the 4th quarter worth approximately $121,000. Hedge funds and other institutional investors own 31.73% of the company’s stock.
Shares of TGP stock traded up $0.21 on Friday, hitting $14.94. The company’s stock had a trading volume of 278,237 shares, compared to its average volume of 349,981. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.72 and a current ratio of 0.91. Teekay Lng Partners has a fifty-two week low of $10.74 and a fifty-two week high of $19.30. The company has a market capitalization of $1.19 billion, a PE ratio of 19.66 and a beta of 1.57.
About Teekay Lng Partners
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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