TD Asset Management Inc Purchases New Position in Golar LNG Limited $GLNG

TD Asset Management Inc acquired a new stake in Golar LNG Limited (NASDAQ:GLNG) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,924 shares of the shipping company’s stock, valued at approximately $846,000.

Several other institutional investors have also added to or reduced their stakes in GLNG. Amundi raised its stake in shares of Golar LNG by 29.6% in the first quarter. Amundi now owns 19,586 shares of the shipping company’s stock worth $744,000 after purchasing an additional 4,468 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Golar LNG by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,915 shares of the shipping company’s stock worth $2,238,000 after buying an additional 2,572 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Golar LNG by 2.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 49,202 shares of the shipping company’s stock worth $2,027,000 after buying an additional 1,383 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Golar LNG during the 2nd quarter valued at about $216,000. Finally, Atria Investments Inc bought a new position in Golar LNG during the 2nd quarter valued at about $715,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

Shares of Golar LNG stock opened at $47.08 on Friday. The business has a 50-day simple moving average of $41.58 and a 200-day simple moving average of $40.21. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. Golar LNG Limited has a one year low of $29.56 and a one year high of $47.48. The company has a market cap of $4.92 billion, a PE ratio of 73.56 and a beta of 0.18.

Golar LNG (NASDAQ:GLNG) last issued 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). Golar LNG had a net margin of 16.69% and a return on equity of 6.24%. The firm had revenue of $132.81 million during the quarter, compared to analyst estimates of $123.29 million. On average, equities research analysts forecast that Golar LNG Limited will post 1.39 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, March 9th. Golar LNG’s payout ratio is 156.25%.

Analyst Upgrades and Downgrades

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

Golar LNG 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.