Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.
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 research analysts have also recently issued reports on GMLP. TheStreet cut Golar LNG Partners from a c rating to a d+ rating in a report on Friday, June 7th. ValuEngine cut Golar LNG Partners from a buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, BidaskClub cut Golar LNG Partners from a hold rating to a sell rating in a research note on Saturday, August 10th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $13.50.
Shares of GMLP stock opened at $9.89 on Wednesday. Golar LNG Partners has a 12-month low of $9.32 and a 12-month high of $15.48. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 1.85. The stock’s 50-day moving average price is $11.09 and its 200-day moving average price is $12.03. The stock has a market capitalization of $722.39 million, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.04.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Tuesday, May 21st. The shipping company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Golar LNG Partners had a return on equity of 10.05% and a net margin of 12.69%. The firm had revenue of $68.05 million during the quarter, compared to the consensus estimate of $70.94 million. As a group, research analysts predict that Golar LNG Partners will post 0.96 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.404 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.62 annualized dividend and a yield of 16.34%. Golar LNG Partners’s payout ratio is currently 154.29%.
A number of hedge funds and other institutional investors have recently modified their holdings of GMLP. Ladenburg Thalmann Financial Services Inc. raised its stake in Golar LNG Partners by 40.6% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,295 shares of the shipping company’s stock worth $93,000 after purchasing an additional 2,395 shares during the period. Morgan Stanley raised its stake in Golar LNG Partners by 23.7% during the second quarter. Morgan Stanley now owns 414,238 shares of the shipping company’s stock worth $4,680,000 after purchasing an additional 79,300 shares during the period. Invesco Ltd. raised its stake in Golar LNG Partners by 6,283.9% during the second quarter. Invesco Ltd. now owns 6,390,187 shares of the shipping company’s stock worth $72,210,000 after purchasing an additional 6,290,088 shares during the period. Russell Investments Group Ltd. raised its stake in Golar LNG Partners by 97.3% during the second quarter. Russell Investments Group Ltd. now owns 75,377 shares of the shipping company’s stock worth $852,000 after purchasing an additional 37,174 shares during the period. Finally, Stockman Wealth Management Inc. raised its stake in Golar LNG Partners by 13.9% during the second quarter. Stockman Wealth Management Inc. now owns 16,000 shares of the shipping company’s stock worth $181,000 after purchasing an additional 1,950 shares during the period. 32.70% of the stock is currently owned by institutional investors.
Golar LNG Partners Company Profile
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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