TD Asset Management Inc Invests $846,000 in Golar LNG Limited $GLNG

TD Asset Management Inc purchased a new stake in Golar LNG Limited (NASDAQ:GLNG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,924 shares of the shipping company’s stock, valued at approximately $846,000.

Several other hedge funds also recently added to or reduced their stakes in GLNG. Smartleaf Asset Management LLC raised its stake in Golar LNG by 281.9% during the 3rd quarter. Smartleaf Asset Management LLC now owns 909 shares of the shipping company’s stock worth $37,000 after acquiring an additional 671 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Golar LNG by 43.5% during the second quarter. Allworth Financial LP now owns 990 shares of the shipping company’s stock worth $41,000 after purchasing an additional 300 shares during the period. Crossingbridge Advisors LLC acquired a new stake in shares of Golar LNG in the 2nd quarter worth $41,000. Penserra Capital Management LLC purchased a new stake in Golar LNG in the 2nd quarter valued at approximately $50,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after buying an additional 657 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Zacks Research raised Golar LNG from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. BTIG Research boosted their target price on shares of Golar LNG from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. The Goldman Sachs Group set a $56.00 price target on shares of Golar LNG in a research note on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Golar LNG in a report on Monday, December 29th. Finally, Wall Street Zen cut shares of Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.50.

Golar LNG Price Performance

Golar LNG stock opened at $47.08 on Friday. The firm has a market capitalization of $4.92 billion, a PE ratio of 73.56 and a beta of 0.18. Golar LNG Limited has a 52 week low of $29.56 and a 52 week high of $47.48. The firm’s 50-day simple moving average is $41.58 and its 200 day simple moving average is $40.21. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 1.19.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). The business had revenue of $132.81 million for the quarter, compared to analysts’ expectations of $123.29 million. Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. On average, equities research analysts predict that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Monday, March 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, March 9th. Golar LNG’s dividend payout ratio is currently 156.25%.

Golar LNG Company Profile

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.