Golar LNG Partners (GMLP) Downgraded by BidaskClub

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BidaskClub lowered shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research report report published on Wednesday.

A number of other equities research analysts have also recently issued reports on GMLP. Zacks Investment Research upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a research report on Wednesday, November 7th. ValuEngine cut shares of Golar LNG Partners from a sell rating to a strong sell rating in a research report on Friday, November 16th. Berenberg Bank assumed coverage on shares of Golar LNG Partners in a research report on Thursday, September 6th. They set a hold rating and a $13.00 target price for the company. DNB Markets upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a research report on Wednesday, November 7th. Finally, Bank of America upgraded shares of Golar LNG Partners from an underperform rating to a neutral rating in a research report on Wednesday, November 7th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $18.75.

Shares of Golar LNG Partners stock opened at $11.98 on Wednesday. The stock has a market cap of $853.30 million, a P/E ratio of 6.37, a PEG ratio of 1.50 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.65. Golar LNG Partners has a 12-month low of $11.59 and a 12-month high of $23.46.

Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.39. The business had revenue of $108.23 million during the quarter, compared to analysts’ expectations of $89.64 million. Golar LNG Partners had a net margin of 32.94% and a return on equity of 16.95%. As a group, equities research analysts forecast that Golar LNG Partners will post 1 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were given a $0.404 dividend. This represents a $1.62 annualized dividend and a yield of 13.49%. The ex-dividend date was Tuesday, November 6th. Golar LNG Partners’s payout ratio is presently 86.17%.

A number of institutional investors and hedge funds have recently bought and sold shares of GMLP. Wedbush Securities Inc. increased its position in Golar LNG Partners by 28.4% in the 2nd quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after acquiring an additional 4,181 shares in the last quarter. Arrow Investment Advisors LLC increased its position in Golar LNG Partners by 12.6% in the 3rd quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock valued at $447,000 after acquiring an additional 3,500 shares in the last quarter. Old Port Advisors acquired a new stake in Golar LNG Partners in the 2nd quarter valued at about $465,000. Alps Advisors Inc. acquired a new stake in Golar LNG Partners in the 2nd quarter valued at about $490,000. Finally, GSA Capital Partners LLP acquired a new stake in Golar LNG Partners in the 3rd quarter valued at about $506,000. Hedge funds and other institutional investors own 37.61% of the company’s stock.

About Golar LNG Partners

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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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