Golar LNG Partners (GMLP) Lifted to Hold at DNB Markets

DNB Markets upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a sell rating to a hold rating in a research report report published on Wednesday, The Fly reports.

Several other analysts also recently weighed in on GMLP. BidaskClub downgraded Golar LNG Partners from a hold rating to a sell rating in a research note on Saturday, July 14th. BTIG Research started coverage on Golar LNG Partners in a research note on Wednesday, July 18th. They set a neutral rating for the company. Citigroup decreased their target price on Golar LNG Partners from $19.00 to $17.00 and set a neutral rating for the company in a research note on Tuesday, July 31st. Zacks Investment Research upgraded Golar LNG Partners from a sell rating to a hold rating in a research note on Tuesday, August 21st. Finally, ValuEngine downgraded Golar LNG Partners from a hold rating to a sell rating in a research report on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Golar LNG Partners has an average rating of Hold and a consensus target price of $18.75.

NASDAQ:GMLP traded down $0.07 during mid-day trading on Wednesday, hitting $14.39. 222,559 shares of the company’s stock traded hands, compared to its average volume of 324,531. Golar LNG Partners has a 12 month low of $12.71 and a 12 month high of $23.46. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.89 and a beta of 0.91. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.65.

Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.36. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. Analysts anticipate that Golar LNG Partners will post 1 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be issued a $0.404 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 11.23%. Golar LNG Partners’s payout ratio is presently 86.17%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Peak Asset Management LLC raised its holdings in shares of Golar LNG Partners by 9.7% in the 3rd quarter. Peak Asset Management LLC now owns 41,610 shares of the shipping company’s stock worth $596,000 after buying an additional 3,680 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Golar LNG Partners by 25.1% during the 3rd quarter. Rafferty Asset Management LLC now owns 136,295 shares of the shipping company’s stock valued at $1,953,000 after purchasing an additional 27,326 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Golar LNG Partners by 24.9% during the 3rd quarter. Wells Fargo & Company MN now owns 52,465 shares of the shipping company’s stock valued at $752,000 after purchasing an additional 10,474 shares in the last quarter. Arrow Investment Advisors LLC increased its holdings in Golar LNG Partners by 12.6% during the 3rd quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock valued at $447,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its holdings in Golar LNG Partners by 34.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 195,000 shares of the shipping company’s stock valued at $2,794,000 after purchasing an additional 50,000 shares in the last quarter. 39.28% of the stock is owned by institutional investors and hedge funds.

Golar LNG Partners Company Profile

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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