Cannell Peter B & Co. Inc. Has $6.21 Million Holdings in Golar LNG Partners LP (GMLP)

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Cannell Peter B & Co. Inc. cut its stake in Golar LNG Partners LP (NASDAQ:GMLP) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,250 shares of the shipping company’s stock after selling 213,075 shares during the period. Cannell Peter B & Co. Inc. owned 0.61% of Golar LNG Partners worth $6,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GMLP. Wells Fargo & Company MN lifted its position 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. Arrow Investment Advisors LLC lifted its position 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. Duff & Phelps Investment Management Co. lifted its position in shares of Golar LNG Partners by 34.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 195,000 shares of the shipping company’s stock worth $2,794,000 after buying an additional 50,000 shares during the period. Old Port Advisors bought a new position in shares of Golar LNG Partners during the 2nd quarter worth approximately $465,000. Finally, FMR LLC lifted its position in shares of Golar LNG Partners by 52.8% during the 2nd quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock worth $106,527,000 after buying an additional 2,379,700 shares during the period. 39.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GMLP opened at $14.46 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.65. Golar LNG Partners LP has a 52-week low of $12.71 and a 52-week high of $23.46. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.91.

Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings data on Monday, November 5th. The shipping company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.36. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. On average, equities research analysts forecast that Golar LNG Partners LP will post 0.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be given a $0.404 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $1.62 annualized dividend and a yield of 11.18%. Golar LNG Partners’s payout ratio is 86.17%.

GMLP has been the subject of several analyst reports. ValuEngine upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Monday, September 24th. BidaskClub downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th. Citigroup cut their target price on Golar LNG Partners from $17.00 to $14.00 and set a “neutral” rating for the company in a research report on Tuesday, September 25th. Berenberg Bank initiated coverage on Golar LNG Partners in a research report on Thursday, September 6th. They set a “hold” rating and a $13.00 target price for the company. Finally, Deutsche Bank initiated coverage on Golar LNG Partners in a research report on Wednesday, October 10th. They set a “hold” rating and a $14.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. Golar LNG Partners presently has a consensus rating of “Hold” and a consensus target price of $18.75.

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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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Institutional Ownership by Quarter for Golar LNG Partners (NASDAQ:GMLP)

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