Golar LNG Partners LP (NASDAQ:GMLP) Upgraded at BidaskClub

Golar LNG Partners LP (NASDAQ:GMLP) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Monday, July 31st.

A number of other analysts have also commented on GMLP. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Seaport Global Securities reissued a “neutral” rating and set a $22.00 price objective on shares of Golar LNG Partners in a report on Tuesday, May 30th. ValuEngine lowered Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price objective on shares of Golar LNG Partners in a report on Monday, June 12th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 target price (down from $24.00) on shares of Golar LNG Partners in a report on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $23.25.

Golar LNG Partners (NASDAQ:GMLP) traded down 0.05% on Monday, hitting $20.00. The company had a trading volume of 263,430 shares. The company has a market capitalization of $1.41 billion, a P/E ratio of 7.20 and a beta of 0.93. Golar LNG Partners has a one year low of $18.13 and a one year high of $25.82. The stock’s 50-day moving average price is $20.98 and its 200 day moving average price is $21.63.

Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings data on Wednesday, May 31st. The shipping company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $101.39 million for the quarter, compared to the consensus estimate of $100.79 million. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. On average, analysts expect that Golar LNG Partners will post $2.29 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the stock. Koch Industries Inc. acquired a new position in Golar LNG Partners during the first quarter valued at about $415,000. HighTower Advisors LLC purchased a new position in Golar LNG Partners during the first quarter valued at approximately $222,000. Winslow Evans & Crocker Inc. increased 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 valued at $265,000 after buying an additional 3,750 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in Golar LNG Partners by 2.2% in the first quarter. Kayne Anderson Capital Advisors LP now owns 4,343,883 shares of the shipping company’s stock valued at $97,031,000 after buying an additional 92,500 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new position in Golar LNG Partners during the first quarter valued at approximately $300,000. 77.02% of the stock is owned by institutional investors.

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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