$124.83 Million in Sales Expected for Teekay Lng Partners, L.P. Common Stock (TGP) This Quarter

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Wall Street analysts forecast that Teekay Lng Partners, L.P. Common Stock (NYSE:TGP) will report sales of $124.83 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Teekay Lng Partners, L.P. Common Stock’s earnings. The lowest sales estimate is $116.56 million and the highest is $130.80 million. Teekay Lng Partners, L.P. Common Stock reported sales of $102.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 21.4%. The firm is expected to report its next earnings results on Thursday, November 8th.

On average, analysts expect that Teekay Lng Partners, L.P. Common Stock will report full-year sales of $481.55 million for the current fiscal year, with estimates ranging from $458.28 million to $511.60 million. For the next financial year, analysts forecast that the firm will post sales of $573.38 million per share, with estimates ranging from $514.36 million to $622.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Teekay Lng Partners, L.P. Common Stock.

Teekay Lng Partners, L.P. Common Stock (NYSE:TGP) last released its quarterly earnings results on Thursday, August 2nd. The shipping company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $114.36 million for the quarter, compared to the consensus estimate of $126.85 million.

A number of research firms recently weighed in on TGP. TheStreet lowered shares of Teekay Lng Partners, L.P. Common Stock from a “c” rating to a “d+” rating in a research report on Thursday, May 17th. Zacks Investment Research lowered shares of Teekay Lng Partners, L.P. Common Stock from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. ValuEngine lowered shares of Teekay Lng Partners, L.P. Common Stock from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Finally, Morgan Stanley dropped their price target on shares of Teekay Lng Partners, L.P. Common Stock from $19.00 to $17.50 and set an “equal weight” rating on the stock in a research report on Wednesday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.70.

TGP opened at $15.85 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.46 and a current ratio of 0.46. Teekay Lng Partners, L.P. Common Stock has a fifty-two week low of $15.65 and a fifty-two week high of $21.65. The stock has a market cap of $1.27 billion, a P/E ratio of 16.00 and a beta of 1.17.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, August 3rd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.53%. The ex-dividend date was Thursday, August 2nd. Teekay Lng Partners, L.P. Common Stock’s dividend payout ratio is 56.00%.

A number of hedge funds have recently made changes to their positions in TGP. Thornburg Investment Management Inc. raised its position in Teekay Lng Partners, L.P. Common Stock by 34.5% in the first quarter. Thornburg Investment Management Inc. now owns 2,990,690 shares of the shipping company’s stock worth $53,533,000 after acquiring an additional 766,774 shares during the period. Renaissance Technologies LLC bought a new stake in Teekay Lng Partners, L.P. Common Stock in the second quarter worth about $3,510,000. JPMorgan Chase & Co. raised its position in Teekay Lng Partners, L.P. Common Stock by 4.7% in the first quarter. JPMorgan Chase & Co. now owns 3,082,039 shares of the shipping company’s stock worth $55,168,000 after acquiring an additional 137,370 shares during the period. UBS Group AG raised its position in Teekay Lng Partners, L.P. Common Stock by 28.2% in the first quarter. UBS Group AG now owns 512,203 shares of the shipping company’s stock worth $9,168,000 after acquiring an additional 112,629 shares during the period. Finally, ACG Wealth bought a new stake in Teekay Lng Partners, L.P. Common Stock in the second quarter worth about $1,180,000. 34.96% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Lng Partners, L.P. Common Stock

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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