DNB Markets upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, The Fly reports.
Several other research firms have also weighed in on GMLP. ValuEngine upgraded Golar LNG Partners from a sell rating to a hold rating in a report on Monday, September 24th. BidaskClub lowered Golar LNG Partners from a hold rating to a sell rating in a report on Wednesday, August 29th. Citigroup reduced their target price on Golar LNG Partners from $17.00 to $14.00 and set a neutral rating on the stock in a report on Tuesday, September 25th. Berenberg Bank assumed coverage on Golar LNG Partners in a report on Thursday, September 6th. They set a hold rating and a $13.00 target price on the stock. Finally, Deutsche Bank assumed coverage on Golar LNG Partners in a report on Wednesday, October 10th. They set a hold rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $18.75.
Shares of NASDAQ GMLP traded down $0.07 during midday trading on Wednesday, hitting $14.39. The stock had a trading volume of 222,559 shares, compared to its average volume of 324,531. The stock has a market capitalization of $1.06 billion, a P/E ratio of 7.65, a price-to-earnings-growth ratio of 1.89 and a beta of 0.91. Golar LNG Partners has a fifty-two week low of $12.71 and a fifty-two week high of $23.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.54 and a current ratio of 0.55.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be issued a $0.404 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 11.23%. Golar LNG Partners’s dividend payout ratio (DPR) is 86.17%.
Institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. lifted its holdings in shares of Golar LNG Partners by 28.4% in the second quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after purchasing an additional 4,181 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Golar LNG Partners in the first quarter valued at about $1,866,000. Van ECK Associates Corp increased its position in shares of Golar LNG Partners by 10.9% in the second quarter. Van ECK Associates Corp now owns 160,020 shares of the shipping company’s stock valued at $2,474,000 after acquiring an additional 15,696 shares during the last quarter. Huber Capital Management LLC increased its position in shares of Golar LNG Partners by 11.5% in the second quarter. Huber Capital Management LLC now owns 1,923,569 shares of the shipping company’s stock valued at $29,738,000 after acquiring an additional 198,135 shares during the last quarter. Finally, FMR LLC increased its position in shares of Golar LNG Partners by 52.8% in the second quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock valued at $106,527,000 after acquiring an additional 2,379,700 shares during the last quarter. Institutional investors own 39.28% of the company’s stock.
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 April 6, 2018, 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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