Zacks Investment Research Downgrades Golar LNG Partners (GMLP) to Sell

Golar LNG Partners (NASDAQ:GMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

Other research analysts also recently issued reports about the company. ABN Amro initiated coverage on Golar LNG Partners in a report on Monday, October 30th. They issued a “buy” rating on the stock. Jefferies Group reissued a “buy” rating and issued a $26.00 target price on shares of Golar LNG Partners in a report on Tuesday, September 26th. Stifel Nicolaus set a $23.00 target price on Golar LNG Partners and gave the stock a “hold” rating in a report on Thursday, August 17th. Finally, ValuEngine raised Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Golar LNG Partners presently has an average rating of “Buy” and an average target price of $23.25.

Shares of Golar LNG Partners (NASDAQ GMLP) traded up $0.06 on Friday, hitting $20.05. The stock had a trading volume of 222,649 shares, compared to its average volume of 207,564. The firm has a market cap of $1,416.77, a P/E ratio of 6.75, a P/E/G ratio of 1.19 and a beta of 0.88. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 2.01. Golar LNG Partners has a fifty-two week low of $18.77 and a fifty-two week high of $25.82.

A number of large investors have recently bought and sold shares of GMLP. BNP Paribas Arbitrage SA acquired a new position in Golar LNG Partners during the 3rd quarter worth $108,000. Bronfman E.L. Rothschild L.P. lifted its holdings 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 buying an additional 620 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Golar LNG Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after buying an additional 572 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Golar LNG Partners by 2.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,741 shares of the shipping company’s stock worth $336,000 after buying an additional 361 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Golar LNG Partners during the 3rd quarter worth $344,000. 46.85% of the stock is currently owned by hedge funds and other institutional investors.

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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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