Golar LNG Partners (NASDAQ:GMLP) Upgraded by BidaskClub to “Sell”

BidaskClub upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a strong sell rating to a sell rating in a report released on Tuesday, BidAskClub reports.

Several other research analysts have also weighed in on GMLP. Zacks Investment Research lowered shares of Golar LNG Partners from a hold rating to a strong sell rating in a report on Tuesday, September 3rd. Scotiabank set a $10.00 price objective on shares of Golar LNG Partners and gave the stock a hold rating in a report on Monday, September 30th. B. Riley set a $14.00 price objective on shares of Golar LNG Partners and gave the stock a hold rating in a report on Friday, August 30th. ValuEngine raised shares of Golar LNG Partners from a hold rating to a buy rating in a report on Saturday, October 5th. Finally, Bank of America decreased their price objective on shares of Golar LNG Partners from $11.50 to $10.00 and set an underperform rating for the company in a report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $11.75.

Shares of GMLP stock opened at $10.24 on Tuesday. The firm has a market cap of $681.27 million, a P/E ratio of 12.16, a P/E/G ratio of 2.33 and a beta of 1.00. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.46 and a quick ratio of 0.45. Golar LNG Partners has a 1-year low of $9.01 and a 1-year high of $15.48. The firm has a fifty day moving average of $9.75 and a two-hundred day moving average of $11.22.

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Golar LNG Partners by 6,283.9% in the 2nd quarter. Invesco Ltd. now owns 6,390,187 shares of the shipping company’s stock valued at $72,210,000 after buying an additional 6,290,088 shares during the period. Muhlenkamp & Co. Inc. acquired a new position in shares of Golar LNG Partners in the 1st quarter valued at about $3,077,000. Morgan Stanley boosted its holdings in shares of Golar LNG Partners by 23.7% in the 2nd quarter. Morgan Stanley now owns 414,238 shares of the shipping company’s stock valued at $4,680,000 after buying an additional 79,300 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Golar LNG Partners by 97.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 75,377 shares of the shipping company’s stock valued at $852,000 after buying an additional 37,174 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Golar LNG Partners in the 2nd quarter valued at about $174,000. 32.40% of the stock is 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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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