Golar LNG Partners (NASDAQ:GMLP) was upgraded by equities researchers at DNB Markets from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, The Fly reports.
Several other analysts have also recently weighed in on the company. ValuEngine cut Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday. B. Riley set a $17.00 target price on shares of Golar LNG Partners and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Deutsche Bank began coverage on shares of Golar LNG Partners in a report on Wednesday, October 10th. They set a “hold” rating and a $14.00 target price for the company. Finally, BidaskClub upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Wednesday, September 26th. One investment 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 currently has a consensus rating of “Hold” and a consensus price target of $18.75.
Golar LNG Partners stock traded down $0.35 during trading hours on Wednesday, hitting $14.11. 1,400 shares of the stock traded hands, compared to its average volume of 317,132. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.54 and a current ratio of 0.55. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.92 and a beta of 0.91. Golar LNG Partners has a one year low of $12.71 and a one year high of $23.46.
Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Monday, November 5th. The shipping company reported $0.70 earnings per share 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, analysts predict that Golar LNG Partners will post 0.98 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its holdings in Golar LNG Partners by 24.9% in the 3rd quarter. Wells Fargo & Company MN now owns 52,465 shares of the shipping company’s stock worth $752,000 after acquiring an additional 10,474 shares during the last quarter. Arrow Investment Advisors LLC raised its holdings in Golar LNG Partners by 12.6% in the 3rd quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock worth $447,000 after acquiring an additional 3,500 shares during the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Golar LNG Partners by 34.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 195,000 shares of the shipping company’s stock worth $2,794,000 after acquiring an additional 50,000 shares during the last quarter. Old Port Advisors purchased a new position in Golar LNG Partners in the 2nd quarter worth approximately $465,000. Finally, FMR LLC raised its holdings in Golar LNG Partners by 52.8% in the 2nd quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock worth $106,527,000 after acquiring an additional 2,379,700 shares during the last quarter. Institutional investors own 39.28% 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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