Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $13.00 price target on the shipping company’s stock.
According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “
Several other equities analysts have also weighed in on GMLP. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. ValuEngine lowered Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, March 12th. Finally, TheStreet lowered Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $13.83.
NASDAQ GMLP traded down $0.12 during trading on Wednesday, hitting $11.42. 110,600 shares of the company traded hands, compared to its average volume of 253,321. Golar LNG Partners has a 12 month low of $10.23 and a 12 month high of $16.99. The business’s fifty day simple moving average is $11.34. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.10 and a quick ratio of 1.08. The company has a market cap of $816.68 million, a P/E ratio of 10.88, a P/E/G ratio of 1.47 and a beta of 1.06.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Tuesday, May 21st. The shipping company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%. The company had revenue of $68.05 million for the quarter, compared to the consensus estimate of $70.94 million. On average, equities research analysts predict that Golar LNG Partners will post 0.98 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Golar LNG Partners by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after acquiring an additional 1,240 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Golar LNG Partners by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 61,003 shares of the shipping company’s stock valued at $658,000 after acquiring an additional 3,101 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Golar LNG Partners during the fourth quarter valued at about $1,047,000. Peak Asset Management LLC increased its holdings in shares of Golar LNG Partners by 2.9% during the fourth quarter. Peak Asset Management LLC now owns 42,837 shares of the shipping company’s stock valued at $463,000 after acquiring an additional 1,227 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Golar LNG Partners by 1.3% during the fourth quarter. FMR LLC now owns 6,976,827 shares of the shipping company’s stock valued at $75,350,000 after acquiring an additional 86,367 shares in the last quarter. Institutional investors and hedge funds own 32.70% of the company’s stock.
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 March 15, 2019, 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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