Teekay Lng Partners (NYSE:TGP) issued its quarterly earnings data on Thursday. The shipping company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01, Morningstar.com reports. Teekay Lng Partners had a return on equity of 5.01% and a net margin of 11.19%. The company had revenue of $149.74 million during the quarter, compared to analyst estimates of $151.96 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Teekay Lng Partners’s revenue was up 29.9% compared to the same quarter last year.
NYSE TGP opened at $13.95 on Friday. The firm has a market cap of $1.15 billion, a P/E ratio of 18.36 and a beta of 1.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.91. Teekay Lng Partners has a fifty-two week low of $10.74 and a fifty-two week high of $17.90.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.19 per share. The ex-dividend date was Monday, May 6th. This is an increase from Teekay Lng Partners’s previous quarterly dividend of $0.14. This represents a $0.76 annualized dividend and a yield of 5.45%. Teekay Lng Partners’s payout ratio is 100.00%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGP. JPMorgan Chase & Co. lifted its position in Teekay Lng Partners by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 3,351,479 shares of the shipping company’s stock valued at $55,970,000 after purchasing an additional 97,786 shares in the last quarter. Virtu Financial LLC purchased a new position in Teekay Lng Partners during the fourth quarter valued at $121,000. Bank of Montreal Can lifted its position in Teekay Lng Partners by 1,244.6% during the fourth quarter. Bank of Montreal Can now owns 81,010 shares of the shipping company’s stock valued at $892,000 after purchasing an additional 74,985 shares in the last quarter. Beach Investment Management LLC. purchased a new position in Teekay Lng Partners during the fourth quarter valued at $220,000. Finally, Beach Investment Counsel Inc. PA lifted its position in Teekay Lng Partners by 2,341.5% during the fourth quarter. Beach Investment Counsel Inc. PA now owns 665,959 shares of the shipping company’s stock valued at $8,564,000 after purchasing an additional 638,682 shares in the last quarter. Institutional investors own 29.83% of the company’s stock.
Several analysts recently commented on the company. Zacks Investment Research lowered Teekay Lng Partners from a “buy” rating to a “hold” rating in a report on Wednesday, February 27th. ValuEngine raised Teekay Lng Partners from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Finally, TheStreet lowered Teekay Lng Partners from a “c” rating to a “d+” rating in a report on Friday, February 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.00.
About Teekay Lng Partners
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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