Pinnacle Associates Ltd. lowered its position in GasLog LP. (NYSE:GLOG) by 8.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,785 shares of the shipping company’s stock after selling 3,892 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.05% of GasLog LP. worth $622,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Mercantile Trust Co. bought a new stake in GasLog LP. during the 1st quarter valued at $161,000. Tudor Investment Corp ET AL purchased a new stake in shares of GasLog LP. during the 1st quarter valued at $182,000. Capital Management Associates NY purchased a new stake in shares of GasLog LP. during the 2nd quarter valued at $290,000. Highbridge Capital Management LLC purchased a new stake in shares of GasLog LP. during the 1st quarter valued at $364,000. Finally, American International Group Inc. lifted its holdings in shares of GasLog LP. by 7.1% during the 1st quarter. American International Group Inc. now owns 25,198 shares of the shipping company’s stock valued at $387,000 after purchasing an additional 1,670 shares during the last quarter. 48.51% of the stock is currently owned by institutional investors and hedge funds.
GLOG has been the subject of a number of research analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $20.00 price objective on shares of GasLog LP. in a research note on Tuesday, September 5th. Zacks Investment Research upgraded GasLog LP. from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine upgraded GasLog LP. from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut GasLog LP. from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, DNB Markets cut GasLog LP. from a “buy” rating to a “hold” rating and set a $17.80 target price on the stock. in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $18.98.
Shares of GasLog LP. (NYSE:GLOG) traded up 0.8908% during mid-day trading on Friday, reaching $17.0001. The company’s stock had a trading volume of 109,432 shares. The firm’s 50 day moving average price is $16.77 and its 200-day moving average price is $15.26. The company’s market capitalization is $1.36 billion. GasLog LP. has a 1-year low of $12.70 and a 1-year high of $18.35.
GasLog LP. (NYSE:GLOG) last posted its earnings results on Thursday, August 3rd. The shipping company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The firm had revenue of $129.90 million during the quarter, compared to the consensus estimate of $128.14 million. During the same period in the previous year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts predict that GasLog LP. will post $0.10 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Monday, August 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, August 10th. GasLog LP.’s dividend payout ratio is currently -800.00%.
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GasLog LP. Profile
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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