Golar LNG Partners (GMLP) Lowered to Sell at BidaskClub

Golar LNG Partners (NASDAQ:GMLP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

A number of other research firms have also recently issued reports on GMLP. B. Riley set a $17.00 price target on shares of Golar LNG Partners and gave the company a “hold” rating in a report on Tuesday, November 6th. Zacks Investment Research upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. ValuEngine cut shares of Golar LNG Partners from a “sell” rating to a “strong sell” rating in a report on Friday, November 16th. Bank of America upgraded shares of Golar LNG Partners from an “underperform” rating to a “neutral” rating in a report on Wednesday, November 7th. Finally, Citigroup decreased their price target on shares of Golar LNG Partners from $17.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, nine have issued 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 target price of $18.75.

GMLP stock opened at $11.99 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.55 and a quick ratio of 0.54. Golar LNG Partners has a 52-week low of $11.84 and a 52-week high of $23.46. The stock has a market cap of $866.14 million, a price-to-earnings ratio of 6.38, a PEG ratio of 1.53 and a beta of 0.88.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.39. Golar LNG Partners had a net margin of 32.94% and a return on equity of 16.95%. The company had revenue of $108.23 million during the quarter, compared to analysts’ expectations of $89.64 million. As a group, equities analysts anticipate that Golar LNG Partners will post 1 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. lifted its stake in shares of Golar LNG Partners by 28.4% in the second quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after buying an additional 4,181 shares during the period. Alps Advisors Inc. bought a new stake in shares of Golar LNG Partners in the second quarter valued at about $490,000. Old Port Advisors bought a new stake in shares of Golar LNG Partners in the second quarter valued at about $465,000. Arrow Investment Advisors LLC lifted its stake in shares of Golar LNG Partners by 12.6% in the third quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock valued at $447,000 after buying an additional 3,500 shares during the period. Finally, Wasatch Advisors Inc. lifted its stake in shares of Golar LNG Partners by 13.2% in the second quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock valued at $530,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 37.61% of the company’s stock.

About Golar LNG Partners

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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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