Zacks Investment Research Downgrades Hoegh LNG Partners (HMLP) to Sell

Hoegh LNG Partners (NYSE:HMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “

Separately, ValuEngine cut Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.50.

Hoegh LNG Partners (NYSE HMLP) opened at $18.15 on Tuesday. The stock has a market capitalization of $353.94, a P/E ratio of 11.56, a P/E/G ratio of 0.65 and a beta of 0.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.63 and a current ratio of 0.64. Hoegh LNG Partners has a 52 week low of $16.90 and a 52 week high of $20.65.

Hoegh LNG Partners (NYSE:HMLP) last announced its quarterly earnings data on Thursday, November 16th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.28). Hoegh LNG Partners had a net margin of 38.90% and a return on equity of 7.77%. research analysts predict that Hoegh LNG Partners will post 1.16 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of HMLP. FMR LLC lifted its holdings in Hoegh LNG Partners by 2.5% in the 2nd quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock worth $27,730,000 after purchasing an additional 35,806 shares in the last quarter. Stifel Financial Corp lifted its holdings in Hoegh LNG Partners by 3.3% in the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock worth $351,000 after purchasing an additional 591 shares in the last quarter. FNY Partners Fund LP purchased a new position in Hoegh LNG Partners in the 4th quarter worth approximately $214,000. Taylor Frigon Capital Management LLC purchased a new stake in shares of Hoegh LNG Partners during the 4th quarter worth approximately $1,016,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Hoegh LNG Partners during the 4th quarter worth approximately $475,000. 64.27% of the stock is currently owned by institutional investors.

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Hoegh LNG Partners Company Profile

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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