Boston Private Wealth LLC boosted its stake in Höegh LNG Partners LP (NYSE:HMLP) by 78.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,317 shares of the shipping company’s stock after purchasing an additional 19,950 shares during the quarter. Boston Private Wealth LLC’s holdings in Höegh LNG Partners were worth $659,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Sigma Planning Corp lifted its position in Höegh LNG Partners by 12.9% during the fourth quarter. Sigma Planning Corp now owns 35,022 shares of the shipping company’s stock valued at $501,000 after buying an additional 3,992 shares in the last quarter. Morgan Stanley lifted its position in Höegh LNG Partners by 48.1% during the fourth quarter. Morgan Stanley now owns 301,248 shares of the shipping company’s stock valued at $4,307,000 after buying an additional 97,781 shares in the last quarter. Trustcore Financial Services LLC lifted its position in Höegh LNG Partners by 51.6% during the first quarter. Trustcore Financial Services LLC now owns 4,395 shares of the shipping company’s stock valued at $64,000 after buying an additional 1,495 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in Höegh LNG Partners during the first quarter valued at approximately $777,000. Hedge funds and other institutional investors own 18.25% of the company’s stock.
A number of brokerages have weighed in on HMLP. Bank of America cut shares of Höegh LNG Partners from a “buy” rating to an “underperform” rating and reduced their price target for the company from $17.00 to $16.00 in a research report on Friday, February 26th. Kepler Capital Markets reissued a “buy” rating on shares of Höegh LNG Partners in a research report on Friday, April 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Höegh LNG Partners from $13.00 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, June 2nd. Finally, Danske raised shares of Höegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.60.
Höegh LNG Partners (NYSE:HMLP) last posted its quarterly earnings results on Wednesday, May 26th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.21. Höegh LNG Partners had a net margin of 57.73% and a return on equity of 21.32%. On average, equities analysts forecast that Höegh LNG Partners LP will post 1.72 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 14th. Investors of record on Thursday, May 6th were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 5th. This represents a $1.76 annualized dividend and a yield of 10.31%. Höegh LNG Partners’s dividend payout ratio is presently 101.15%.
Höegh LNG Partners Company Profile
HÃ¶egh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2021, it had a fleet of five FSRUs.
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