Shares of Golar LNG Partners LP (NASDAQ:GMLP) have been given an average recommendation of “Hold” by the seven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $23.25.
Several analysts have issued reports on GMLP shares. Zacks Investment Research downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. BidaskClub raised shares of Golar LNG Partners from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. ValuEngine downgraded shares of Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $23.00 price objective on shares of Golar LNG Partners in a research note on Friday, July 14th. Finally, Seaport Global Securities reissued a “neutral” rating and issued a $22.00 price objective on shares of Golar LNG Partners in a research note on Tuesday, May 30th.
Several hedge funds have recently bought and sold shares of the stock. OppenheimerFunds Inc. increased its stake in Golar LNG Partners by 19.9% in the first quarter. OppenheimerFunds Inc. now owns 5,426,511 shares of the shipping company’s stock valued at $121,228,000 after buying an additional 901,925 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in Golar LNG Partners during the first quarter valued at $13,755,000. First Trust Advisors LP bought a new stake in Golar LNG Partners during the second quarter valued at $9,812,000. Clearbridge Investments LLC increased its stake in Golar LNG Partners by 29.0% in the first quarter. Clearbridge Investments LLC now owns 1,533,549 shares of the shipping company’s stock valued at $34,259,000 after buying an additional 345,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Golar LNG Partners by 884.2% in the first quarter. Renaissance Technologies LLC now owns 281,517 shares of the shipping company’s stock valued at $6,289,000 after buying an additional 252,912 shares in the last quarter. 77.50% of the stock is owned by hedge funds and other institutional investors.
Golar LNG Partners (GMLP) opened at 20.23 on Tuesday. Golar LNG Partners has a 52-week low of $18.13 and a 52-week high of $25.82. The company’s 50-day moving average price is $20.99 and its 200 day moving average price is $21.78. The stock has a market capitalization of $1.43 billion, a PE ratio of 7.28 and a beta of 0.93.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings results on Wednesday, May 31st. The shipping company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.11. Golar LNG Partners had a net margin of 40.50% and a return on equity of 28.97%. The business had revenue of $101.39 million during the quarter, compared to the consensus estimate of $100.79 million. Equities analysts forecast that Golar LNG Partners will post $2.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 11.42%. The ex-dividend date is Wednesday, August 2nd. Golar LNG Partners’s dividend payout ratio is presently 82.21%.
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About Golar LNG Partners
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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