Wall Street analysts forecast that Teekay Lng Partners, L.P. (NYSE:TGP) will announce sales of $124.21 million for the current quarter, Zacks reports. Three analysts have provided estimates for Teekay Lng Partners’ earnings, with the highest sales estimate coming in at $134.63 million and the lowest estimate coming in at $111.05 million. Teekay Lng Partners posted sales of $99.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.3%. The company is expected to report its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Teekay Lng Partners will report full-year sales of $500.96 million for the current financial year, with estimates ranging from $468.23 million to $541.24 million. For the next year, analysts forecast that the firm will post sales of $595.38 million per share, with estimates ranging from $532.95 million to $664.36 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings data on Thursday, May 17th. The shipping company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Teekay Lng Partners had a net margin of 6.38% and a return on equity of 6.08%. The company had revenue of $109.51 million during the quarter, compared to the consensus estimate of $115.21 million.
Shares of TGP stock traded down $0.03 during trading hours on Friday, hitting $17.52. The company had a trading volume of 16,071 shares, compared to its average volume of 170,475. Teekay Lng Partners has a 12 month low of $14.05 and a 12 month high of $21.65. The firm has a market cap of $1.43 billion, a P/E ratio of 17.70 and a beta of 1.14. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.40.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Friday, May 4th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, May 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.20%. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 56.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Guggenheim Capital LLC grew its position in Teekay Lng Partners by 5.6% during the 1st quarter. Guggenheim Capital LLC now owns 196,586 shares of the shipping company’s stock worth $3,519,000 after acquiring an additional 10,466 shares during the last quarter. UBS Group AG grew its position in Teekay Lng Partners by 28.2% during the 1st quarter. UBS Group AG now owns 512,203 shares of the shipping company’s stock worth $9,168,000 after acquiring an additional 112,629 shares during the last quarter. JPMorgan Chase & Co. grew its position in Teekay Lng Partners by 4.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,082,039 shares of the shipping company’s stock worth $55,168,000 after acquiring an additional 137,370 shares during the last quarter. Gator Capital Management LLC bought a new stake in Teekay Lng Partners during the 1st quarter worth approximately $364,000. Finally, Thornburg Investment Management Inc. grew its position in Teekay Lng Partners by 34.5% during the 1st quarter. Thornburg Investment Management Inc. now owns 2,990,690 shares of the shipping company’s stock worth $53,533,000 after acquiring an additional 766,774 shares during the last quarter. Institutional investors and hedge funds own 35.57% of the company’s stock.
About Teekay Lng Partners
Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
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