Golar LNG Partners LP (GMLP) Coverage Initiated at ABN Amro

Research analysts at ABN Amro began coverage on shares of Golar LNG Partners LP (NASDAQ:GMLP) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the shipping company’s stock.

Several other equities analysts also recently issued reports on GMLP. Stifel Nicolaus set a $23.00 target price on Golar LNG Partners and gave the company a “hold” rating in a research report on Thursday, August 17th. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 target price on shares of Golar LNG Partners in a research report on Tuesday, September 26th. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised Golar LNG Partners from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, ValuEngine raised Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.25.

Golar LNG Partners (NASDAQ GMLP) opened at 21.77 on Monday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 7.07 and a beta of 0.95. The company’s 50-day moving average price is $22.62 and its 200 day moving average price is $21.39. Golar LNG Partners has a 52-week low of $18.32 and a 52-week high of $25.82.

Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Wednesday, August 30th. The shipping company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.12% and a net margin of 43.94%. On average, equities research analysts predict that Golar LNG Partners will post $2.22 earnings per share for the current fiscal year.

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Institutional investors and hedge funds have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. grew its position in Golar LNG Partners by 12.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,655 shares of the shipping company’s stock worth $113,000 after purchasing an additional 620 shares during the period. Alliancebernstein L.P. acquired a new stake in Golar LNG Partners during the 1st quarter worth about $216,000. HighTower Advisors LLC acquired a new stake in Golar LNG Partners during the 1st quarter worth about $222,000. PNC Financial Services Group Inc. grew its position in Golar LNG Partners by 13.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock worth $271,000 after purchasing an additional 1,474 shares during the period. Finally, KCG Holdings Inc. acquired a new stake in Golar LNG Partners during the 1st quarter worth about $300,000. 44.80% of the stock is currently owned by institutional investors.

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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