Hoegh LNG Partners (NYSE:HMLP) had its target price dropped by analysts at Morgan Stanley from $20.50 to $20.00 in a report released on Monday. The firm presently has an “overweight” rating on the shipping company’s stock. Morgan Stanley’s price target suggests a potential upside of 13.64% from the company’s current price.
Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of Hoegh LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 7th. Two equities 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 $21.33.
Hoegh LNG Partners (NYSE HMLP) traded up $0.35 during mid-day trading on Monday, hitting $17.60. 45,873 shares of the stock traded hands, compared to its average volume of 91,124. Hoegh LNG Partners has a one year low of $16.75 and a one year high of $20.65. The firm has a market cap of $341.08, a PE ratio of 11.21, a PEG ratio of 0.63 and a beta of 0.88. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.64 and a quick ratio of 0.63.
A number of large investors have recently bought and sold shares of HMLP. FMR LLC increased its holdings in Hoegh LNG Partners by 2.5% during the 2nd quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after acquiring an additional 35,806 shares in the last quarter. Stifel Financial Corp increased its holdings in Hoegh LNG Partners by 3.3% during the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after acquiring an additional 591 shares in the last quarter. FNY Partners Fund LP purchased a new position in Hoegh LNG Partners during the 4th quarter valued at about $214,000. Taylor Frigon Capital Management LLC purchased a new position in Hoegh LNG Partners during the 4th quarter valued at about $1,016,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Hoegh LNG Partners during the 4th quarter valued at about $475,000. Hedge funds and other institutional investors own 64.57% of the company’s stock.
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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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