Teekay Lng Partners (TGP) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Teekay Lng Partners (NYSE:TGP) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have $20.00 target price on the shipping company’s stock.

A number of other brokerages have also commented on TGP. Zacks Investment Research lowered shares of Teekay Lng Partners from a hold rating to a sell rating in a research report on Thursday, October 4th. ValuEngine raised shares of Teekay Lng Partners from a sell rating to a hold rating in a research report on Friday, September 28th. Deutsche Bank began coverage on shares of Teekay Lng Partners in a research report on Wednesday, October 10th. They set a hold rating and a $17.00 price objective for the company. Wells Fargo & Co cut their price objective on shares of Teekay Lng Partners from $22.00 to $15.00 and set an outperform rating for the company in a research report on Wednesday, November 21st. Finally, Jefferies Financial Group reaffirmed a neutral rating on shares of Teekay Lng Partners in a research report on Tuesday, November 20th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $17.75.

Teekay Lng Partners stock opened at $13.54 on Wednesday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 13.54 and a beta of 1.33. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.72 and a quick ratio of 0.72. Teekay Lng Partners has a fifty-two week low of $12.19 and a fifty-two week high of $21.65.

Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings data on Thursday, November 15th. The shipping company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.18). The company had revenue of $115.38 million for the quarter, compared to analyst estimates of $125.21 million. Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%. Equities analysts forecast that Teekay Lng Partners will post 0.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 9th. Investors of record on Friday, November 2nd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, November 1st. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 56.00%.

A number of large investors have recently bought and sold shares of the stock. Banco de Sabadell S.A raised its position in Teekay Lng Partners by 188.1% in the third quarter. Banco de Sabadell S.A now owns 6,914 shares of the shipping company’s stock worth $112,000 after purchasing an additional 4,514 shares in the last quarter. Goldentree Asset Management LP raised its position in Teekay Lng Partners by 169.4% in the third quarter. Goldentree Asset Management LP now owns 79,415 shares of the shipping company’s stock worth $1,326,000 after purchasing an additional 49,940 shares in the last quarter. LPL Financial LLC acquired a new position in Teekay Lng Partners in the third quarter worth about $218,000. Renaissance Technologies LLC raised its position in Teekay Lng Partners by 69.2% in the third quarter. Renaissance Technologies LLC now owns 352,500 shares of the shipping company’s stock worth $5,887,000 after purchasing an additional 144,200 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Teekay Lng Partners by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 3,351,479 shares of the shipping company’s stock worth $55,970,000 after purchasing an additional 97,786 shares in the last quarter. 34.23% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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