Stifel Nicolaus restated their buy rating on shares of Teekay Lng Partners (NYSE:TGP) in a research note issued to investors on Thursday morning, TipRanks reports. The brokerage currently has a $20.00 target price on the shipping company’s stock.
Other equities research analysts have also recently issued reports about the stock. TheStreet raised shares of Teekay Lng Partners from a d+ rating to a c rating in a report on Thursday, August 1st. Zacks Investment Research lowered shares of Teekay Lng Partners from a buy rating to a hold rating and set a $17.00 target price on the stock. in a research report on Saturday, November 2nd. Finally, ValuEngine lowered shares of Teekay Lng Partners from a sell rating to a strong sell rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $17.00.
NYSE TGP traded down $0.43 on Thursday, reaching $15.94. The company had a trading volume of 652,146 shares, compared to its average volume of 318,763. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.49 and a beta of 1.53. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.54 and a current ratio of 0.55. Teekay Lng Partners has a 1-year low of $10.74 and a 1-year high of $16.66. The company’s fifty day moving average is $14.22 and its 200-day moving average is $14.41.
Teekay Lng Partners (NYSE:TGP) last announced its earnings results on Wednesday, November 13th. The shipping company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. The firm had revenue of $149.70 million during the quarter, compared to analyst estimates of $167.28 million. Teekay Lng Partners had a net margin of 15.72% and a return on equity of 9.24%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 EPS. On average, research analysts forecast that Teekay Lng Partners will post 1.83 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Thursday, October 31st. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 100.00%.
A number of hedge funds have recently added to or reduced their stakes in TGP. SeaBridge Investment Advisors LLC boosted its stake in shares of Teekay Lng Partners by 16.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock valued at $99,000 after purchasing an additional 1,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Teekay Lng Partners by 101.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,889 shares of the shipping company’s stock worth $126,000 after acquiring an additional 4,482 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Teekay Lng Partners in the 2nd quarter worth about $200,000. Valmark Advisers Inc. grew its position in Teekay Lng Partners by 32.1% during the 2nd quarter. Valmark Advisers Inc. now owns 20,746 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 5,047 shares during the last quarter. Finally, Baldwin Investment Management LLC grew its position in Teekay Lng Partners by 27.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 27,540 shares of the shipping company’s stock valued at $388,000 after purchasing an additional 6,000 shares during the last quarter. 29.22% of the stock is owned by institutional investors and hedge funds.
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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