Icon Advisers Inc. Co. lowered its holdings in Teekay LNG Partners L.P. (NYSE:TGP) by 27.8% in the 4th quarter, HoldingsChannel reports. The firm owned 249,508 shares of the shipping company’s stock after selling 96,000 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Teekay LNG Partners were worth $5,028,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in shares of Teekay LNG Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock valued at $205,000 after purchasing an additional 746 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Teekay LNG Partners in the 2nd quarter valued at about $249,000. Toronto Dominion Bank raised its holdings in shares of Teekay LNG Partners by 103.7% in the 3rd quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock valued at $256,000 after purchasing an additional 403,411 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Teekay LNG Partners in the 3rd quarter valued at about $306,000. Finally, Beach Investment Management LLC. bought a new stake in shares of Teekay LNG Partners in the 4th quarter valued at about $426,000. Institutional investors and hedge funds own 36.28% of the company’s stock.
Teekay LNG Partners L.P. (NYSE:TGP) opened at $18.35 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.32 and a quick ratio of 0.32. Teekay LNG Partners L.P. has a 12-month low of $14.05 and a 12-month high of $21.65. The stock has a market cap of $1,461.15, a P/E ratio of 22.38 and a beta of 1.17.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 2nd were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, February 1st. Teekay LNG Partners’s payout ratio is currently 68.29%.
Several equities research analysts have recently commented on TGP shares. UBS Group reduced their price target on shares of Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a report on Friday, November 10th. ValuEngine raised shares of Teekay LNG Partners from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Jefferies Group initiated coverage on shares of Teekay LNG Partners in a research report on Monday, December 18th. They issued a “hold” rating and a $18.00 price objective on the stock. Zacks Investment Research downgraded shares of Teekay LNG Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners in a research report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Teekay LNG Partners presently has a consensus rating of “Hold” and an average target price of $18.00.
About Teekay LNG Partners
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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