Zacks Investment Research upgraded shares of Teekay LNG Partners L.P. (NYSE:TGP) from a strong sell rating to a hold rating in a report published on Thursday, October 5th.
According to Zacks, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. “
TGP has been the topic of several other research reports. BidaskClub raised shares of Teekay LNG Partners L.P. from a strong sell rating to a sell rating in a report on Friday, June 30th. ValuEngine raised Teekay LNG Partners L.P. from a buy rating to a strong-buy rating in a research note on Saturday, July 8th. TheStreet cut Teekay LNG Partners L.P. from a b- rating to a c rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a hold rating and issued a $16.00 target price on shares of Teekay LNG Partners L.P. in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $16.50.
Teekay LNG Partners L.P. (NYSE TGP) opened at 18.05 on Thursday. The firm has a 50-day moving average price of $17.46 and a 200-day moving average price of $16.87. Teekay LNG Partners L.P. has a 1-year low of $13.06 and a 1-year high of $19.90. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 10.56 and a beta of 1.25.
Teekay LNG Partners L.P. (NYSE:TGP) last released its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.12). The firm had revenue of $99.91 million during the quarter, compared to the consensus estimate of $103.31 million. Teekay LNG Partners L.P. had a return on equity of 6.12% and a net margin of 38.28%. On average, analysts expect that Teekay LNG Partners L.P. will post $1.44 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.10%. Teekay LNG Partners L.P.’s dividend payout ratio is currently 32.75%.
Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. boosted its holdings in shares of Teekay LNG Partners L.P. by 5.9% during the second quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock worth $205,000 after purchasing an additional 746 shares during the period. Blair William & Co. IL purchased a new stake in shares of Teekay LNG Partners L.P. during the first quarter worth about $218,000. Virtu KCG Holdings LLC purchased a new stake in shares of Teekay LNG Partners L.P. during the second quarter worth about $249,000. CNH Partners LLC raised its stake in Teekay LNG Partners L.P. by 1.0% in the second quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock worth $315,000 after buying an additional 200 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in Teekay LNG Partners L.P. by 2.9% in the first quarter. Global X Management Co. LLC now owns 19,822 shares of the shipping company’s stock worth $348,000 after buying an additional 564 shares in the last quarter. Institutional investors own 38.05% of the company’s stock.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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