Golar LNG Partners (NASDAQ:GMLP) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $13.00 target price on the shipping company’s stock.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

Other equities analysts have also recently issued reports about the company. TheStreet cut Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. Finally, ValuEngine cut Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, March 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $13.83.

GMLP opened at $11.74 on Wednesday. The business has a 50-day moving average price of $11.33. Golar LNG Partners has a 12-month low of $10.23 and a 12-month high of $16.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.10 and a quick ratio of 1.08. The stock has a market cap of $832.25 million, a PE ratio of 11.18, a P/E/G ratio of 1.46 and a beta of 1.05.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Tuesday, May 21st. The shipping company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Golar LNG Partners had a return on equity of 10.05% and a net margin of 12.69%. The firm had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $70.94 million. Research analysts expect that Golar LNG Partners will post 0.98 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of GMLP. Lavaca Capital LLC purchased a new stake in Golar LNG Partners during the 1st quarter valued at about $39,000. SeaBridge Investment Advisors LLC boosted its holdings in Golar LNG Partners by 50.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock valued at $77,000 after acquiring an additional 2,000 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Golar LNG Partners by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after acquiring an additional 1,240 shares during the period. Deutsche Bank AG boosted its holdings in Golar LNG Partners by 1,099.7% during the 4th quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock valued at $128,000 after acquiring an additional 10,997 shares during the period. Finally, Regent Investment Management LLC purchased a new stake in Golar LNG Partners during the 1st quarter valued at about $142,000. Institutional investors own 32.70% 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 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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