Hoegh LNG Partners LP (HMLP) Receives Average Rating of “Buy” from Analysts

Hoegh LNG Partners LP (NYSE:HMLP) has been given an average rating of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $21.63.

HMLP has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Hoegh LNG Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 24th. Citigroup increased their price objective on shares of Hoegh LNG Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub downgraded shares of Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, September 14th. ValuEngine raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, TheStreet raised shares of Hoegh LNG Partners from a “d” rating to a “c+” rating in a report on Monday, August 7th.

Shares of Hoegh LNG Partners (NYSE HMLP) opened at $17.40 on Monday. Hoegh LNG Partners has a twelve month low of $16.90 and a twelve month high of $20.65. The stock has a market cap of $343.91, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.71 and a beta of 0.94. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 1.01.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Thursday, November 2nd were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 9.89%. The ex-dividend date was Wednesday, November 1st. Hoegh LNG Partners’s payout ratio is 109.55%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP lifted its holdings in Hoegh LNG Partners by 1.9% during the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after purchasing an additional 43,400 shares in the last quarter. FMR LLC lifted its holdings in Hoegh LNG Partners by 2.5% during the second quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after purchasing an additional 35,806 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Hoegh LNG Partners by 70.0% during the first quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock valued at $2,203,000 after purchasing an additional 46,140 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hoegh LNG Partners by 179.6% during the first quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock valued at $2,135,000 after purchasing an additional 69,793 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Hoegh LNG Partners in the second quarter valued at about $428,000. 64.13% of the stock is currently owned by institutional investors and hedge funds.

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About Hoegh LNG Partners

Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.

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