Teekay Lng Partners, L.P. Common Stock (TGP) Receives $19.70 Consensus Target Price from Brokerages

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Teekay Lng Partners, L.P. Common Stock (NYSE:TGP) has been assigned a consensus recommendation of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.70.

Several research analysts have recently weighed in on TGP shares. ValuEngine raised shares of Teekay Lng Partners, L.P. Common Stock from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. TheStreet cut shares of Teekay Lng Partners, L.P. Common Stock from a “c” rating to a “d+” rating in a report on Thursday, May 17th. Zacks Investment Research raised shares of Teekay Lng Partners, L.P. Common Stock from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 1st. Finally, Morgan Stanley decreased their price objective on shares of Teekay Lng Partners, L.P. Common Stock from $19.00 to $17.50 and set an “equal weight” rating for the company in a report on Wednesday, June 13th.

Shares of TGP traded up $0.40 during mid-day trading on Wednesday, hitting $16.35. 3,585 shares of the company traded hands, compared to its average volume of 204,108. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 1.54. Teekay Lng Partners, L.P. Common Stock has a 1 year low of $15.65 and a 1 year high of $21.65. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.20 and a beta of 1.17.

Teekay Lng Partners, L.P. Common Stock (NYSE:TGP) last released its quarterly earnings data on Thursday, August 2nd. The shipping company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.17). Teekay Lng Partners, L.P. Common Stock had a net margin of 10.11% and a return on equity of 5.85%. The company had revenue of $114.36 million for the quarter, compared to analysts’ expectations of $126.85 million. analysts expect that Teekay Lng Partners, L.P. Common Stock will post 1.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, August 3rd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 3.43%. Teekay Lng Partners, L.P. Common Stock’s dividend payout ratio is currently 56.00%.

A number of hedge funds have recently made changes to their positions in TGP. ACG Wealth bought a new position in shares of Teekay Lng Partners, L.P. Common Stock in the second quarter worth approximately $1,180,000. Deutsche Bank AG boosted its position in shares of Teekay Lng Partners, L.P. Common Stock by 3,665.2% in the fourth quarter. Deutsche Bank AG now owns 45,182 shares of the shipping company’s stock worth $910,000 after purchasing an additional 43,982 shares during the period. Gator Capital Management LLC bought a new position in shares of Teekay Lng Partners, L.P. Common Stock in the first quarter worth approximately $364,000. Renaissance Technologies LLC bought a new position in shares of Teekay Lng Partners, L.P. Common Stock in the fourth quarter worth approximately $895,000. Finally, Wells Fargo & Company MN boosted its position in shares of Teekay Lng Partners, L.P. Common Stock by 17.3% in the first quarter. Wells Fargo & Company MN now owns 199,279 shares of the shipping company’s stock worth $3,567,000 after purchasing an additional 29,344 shares during the period. 34.89% of the stock is owned by institutional investors and hedge funds.

Teekay Lng Partners, L.P. Common Stock Company Profile

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, L.P. Common Stock (NYSE:TGP)

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