Summit Securities Group LLC purchased a new position in Golar LNG Partners LP (NASDAQ:GMLP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,756 shares of the shipping company’s stock, valued at approximately $356,000.
Several other institutional investors also recently bought and sold shares of GMLP. Honkamp Krueger Financial Services Inc. bought a new position in Golar LNG Partners during the first quarter worth $201,000. Winslow Evans & Crocker Inc. boosted its position in Golar LNG Partners by 46.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,876 shares of the shipping company’s stock worth $265,000 after buying an additional 3,750 shares during the period. Sippican Capital Advisors boosted its position in Golar LNG Partners by 2.2% in the first quarter. Sippican Capital Advisors now owns 25,556 shares of the shipping company’s stock worth $571,000 after buying an additional 556 shares during the period. Waldron LP bought a new position in Golar LNG Partners during the first quarter worth $893,000. Finally, Tocqueville Asset Management L.P. boosted its position in Golar LNG Partners by 86.7% in the first quarter. Tocqueville Asset Management L.P. now owns 129,178 shares of the shipping company’s stock worth $2,886,000 after buying an additional 60,000 shares during the period. 77.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Golar LNG Partners LP (NASDAQ:GMLP) opened at 20.23 on Friday. Golar LNG Partners LP has a 52 week low of $18.13 and a 52 week high of $25.82. The firm has a market capitalization of $1.43 billion, a PE ratio of 7.28 and a beta of 0.93. The company has a 50-day moving average of $20.99 and a 200-day moving average of $21.78.
Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Wednesday, May 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.11. The firm had revenue of $101.39 million for the quarter, compared to analyst estimates of $100.79 million. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. On average, equities analysts forecast that Golar LNG Partners LP will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, August 4th will be issued a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 11.42%. The ex-dividend date of this dividend is Wednesday, August 2nd. Golar LNG Partners’s payout ratio is currently 82.21%.
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A number of equities analysts have recently weighed in on GMLP shares. Zacks Investment Research raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Seaport Global Securities reaffirmed a “neutral” rating and set a $22.00 price target on shares of Golar LNG Partners in a research note on Tuesday, May 30th. ValuEngine cut shares of Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. BidaskClub cut shares of Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of Golar LNG Partners in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Golar LNG Partners presently has an average rating of “Hold” and a consensus price target of $23.25.
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 time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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