Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 price target on the shipping company’s stock.
According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “
Other analysts have also recently issued research reports about the stock. TheStreet cut shares of Zimmer Biomet from a b- rating to a c rating in a research note on Friday, June 7th. ValuEngine lowered shares of Zynerba Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, March 12th. Finally, BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $13.83.
NASDAQ:GMLP opened at $11.74 on Wednesday. The firm has a market capitalization of $832.25 million, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.08 and a current ratio of 1.10. The company has a 50 day moving average of $11.33. Golar LNG Partners has a 12-month low of $10.23 and a 12-month high of $16.99.
Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings results on Tuesday, May 21st. The shipping company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The company had revenue of $68.05 million for the quarter, compared to analyst estimates of $70.94 million. Golar LNG Partners had a return on equity of 10.05% and a net margin of 12.69%. On average, analysts expect that Golar LNG Partners will post 0.98 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Lavaca Capital LLC acquired a new stake in Golar LNG Partners in the first quarter valued at $39,000. SeaBridge Investment Advisors LLC grew its stake in shares of Golar LNG Partners by 50.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock worth $77,000 after purchasing an additional 2,000 shares during the period. Regent Investment Management LLC purchased a new position in shares of Golar LNG Partners in the 1st quarter valued at about $142,000. PNC Financial Services Group Inc. increased its holdings in shares of Golar LNG Partners by 12.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after purchasing an additional 1,240 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Golar LNG Partners by 1,099.7% in the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 10,997 shares during the period. 32.70% of the stock is currently owned by hedge funds and other 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 March 15, 2019, 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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