Golar LNG Partners (NASDAQ:GMLP) was downgraded by analysts at DNB Markets from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Marketbeat.com reports.
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. Bank of America downgraded Golar LNG Partners from a “buy” rating to an “underperform” rating in a report on Friday, June 1st. BidaskClub raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Stifel Nicolaus lowered their price target on Golar LNG Partners from $25.00 to $21.00 and set a “buy” rating for the company in a report on Friday, June 1st. Finally, Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.
Shares of Golar LNG Partners stock traded down $0.51 on Wednesday, reaching $12.90. 8,379 shares of the company were exchanged, compared to its average volume of 407,143. Golar LNG Partners has a 1-year low of $13.17 and a 1-year high of $23.46. The company has a market cap of $963.80 million, a PE ratio of 6.91, a P/E/G ratio of 1.68 and a beta of 0.96. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.59 and a current ratio of 0.60.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.14. Golar LNG Partners had a return on equity of 13.44% and a net margin of 26.85%. The business had revenue of $84.20 million during the quarter, compared to the consensus estimate of $81.17 million. sell-side analysts predict that Golar LNG Partners will post 1.01 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its stake in Golar LNG Partners by 58.1% in the first quarter. BNP Paribas Arbitrage SA now owns 11,810 shares of the shipping company’s stock valued at $202,000 after buying an additional 4,342 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Golar LNG Partners in the first quarter valued at approximately $252,000. Koch Industries Inc. lifted its stake in Golar LNG Partners by 88.3% in the first quarter. Koch Industries Inc. now owns 19,774 shares of the shipping company’s stock valued at $338,000 after buying an additional 9,275 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Golar LNG Partners in the second quarter valued at approximately $490,000. Finally, Wasatch Advisors Inc. lifted its stake in 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 last quarter. Institutional investors own 39.95% 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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