Golar LNG Partners (GMLP) Upgraded by BidaskClub to Buy

Golar LNG Partners (NASDAQ:GMLP) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

GMLP has been the topic of a number of other research reports. Zacks Investment Research upgraded Golar LNG Partners from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, December 10th. ValuEngine upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. Citigroup dropped their target price on Golar LNG Partners from $17.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 25th. Bank of America upgraded Golar LNG Partners from an “underperform” rating to a “neutral” rating in a research report on Wednesday, November 7th. Finally, Deutsche Bank initiated coverage on Golar LNG Partners in a research report on Wednesday, October 10th. They issued a “hold” rating and a $14.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Shares of GMLP stock opened at $13.08 on Friday. Golar LNG Partners has a fifty-two week low of $10.23 and a fifty-two week high of $23.46. The stock has a market cap of $951.68 million, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.54 and a current ratio of 0.55.

Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.39. The business had revenue of $108.23 million for the quarter, compared to analyst estimates of $89.64 million. Golar LNG Partners had a return on equity of 16.95% and a net margin of 32.94%. Sell-side analysts predict that Golar LNG Partners will post 1 EPS for the current year.

Large investors have recently made changes to their positions in the business. Arrow Investment Advisors LLC raised its stake in shares of 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 worth $447,000 after buying an additional 3,500 shares during the period. Old Port Advisors acquired a new position in shares of Golar LNG Partners during the 2nd quarter worth approximately $465,000. GSA Capital Partners LLP acquired a new position in shares of Golar LNG Partners during the 3rd quarter worth approximately $506,000. Peak Asset Management LLC raised its stake in shares of Golar LNG Partners by 9.7% during 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 during the period. Finally, Wells Fargo & Company MN raised its stake in shares of 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 worth $752,000 after buying an additional 10,474 shares during the period. 37.57% of the stock is owned by institutional investors.

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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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