Golar LNG Partners (NASDAQ:GMLP) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $13.00 price target on the shipping company’s stock.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

GMLP has been the topic of a number of other reports. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. ValuEngine lowered Zynerba Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, March 12th. Finally, TheStreet lowered Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $13.83.

Shares of GMLP stock opened at $11.74 on Wednesday. The company has a market capitalization of $832.25 million, a P/E ratio of 11.18, a P/E/G ratio of 1.46 and a beta of 1.05. The business has a 50 day simple moving average of $11.33. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.08 and a current ratio of 1.10. Golar LNG Partners has a fifty-two week low of $10.23 and a fifty-two week high of $16.99.

Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Tuesday, May 21st. The shipping company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). The company had revenue of $68.05 million for the quarter, compared to analysts’ expectations of $70.94 million. Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%. On average, research analysts predict that Golar LNG Partners will post 0.98 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Muhlenkamp & Co. Inc. bought a new stake in shares of Golar LNG Partners in the first quarter valued at $3,077,000. Jane Street Group LLC bought a new stake in shares of Golar LNG Partners in the fourth quarter valued at $1,047,000. FMR LLC raised its stake in shares of Golar LNG Partners by 1.3% in the fourth quarter. FMR LLC now owns 6,976,827 shares of the shipping company’s stock valued at $75,350,000 after buying an additional 86,367 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Golar LNG Partners by 26.5% in the first quarter. Duff & Phelps Investment Management Co. now owns 215,000 shares of the shipping company’s stock valued at $2,776,000 after buying an additional 45,000 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in shares of Golar LNG Partners by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 6,292,174 shares of the shipping company’s stock valued at $81,232,000 after buying an additional 33,479 shares during the period. Institutional investors and hedge funds own 32.70% of the company’s stock.

Golar LNG Partners Company Profile

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 March 15, 2019, 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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