Equities research analysts forecast that Teekay Lng Partners, L.P. (NYSE:TGP) will report $151.41 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Teekay Lng Partners’ earnings, with the highest sales estimate coming in at $154.30 million and the lowest estimate coming in at $148.60 million. Teekay Lng Partners reported sales of $114.36 million during the same quarter last year, which would suggest a positive year over year growth rate of 32.4%. The firm is scheduled to announce its next earnings report before the market opens on Thursday, August 1st.
According to Zacks, analysts expect that Teekay Lng Partners will report full year sales of $616.75 million for the current fiscal year, with estimates ranging from $604.93 million to $628.02 million. For the next financial year, analysts expect that the business will post sales of $626.64 million, with estimates ranging from $567.01 million to $689.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $155.70 million. Teekay Lng Partners had a return on equity of 5.75% and a net margin of 10.92%. The business’s quarterly revenue was up 25.2% on a year-over-year basis.
Shares of NYSE TGP traded up $0.44 during midday trading on Thursday, hitting $14.90. The stock had a trading volume of 341,672 shares, compared to its average volume of 234,532. The company has a market cap of $1.19 billion, a P/E ratio of 19.61 and a beta of 1.51. Teekay Lng Partners has a 1-year low of $10.74 and a 1-year high of $17.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.99. The business has a fifty day moving average of $14.43.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date is Monday, August 5th. Teekay Lng Partners’s dividend payout ratio is 100.00%.
Large investors have recently made changes to their positions in the stock. Advisory Services Network LLC increased its position in shares of Teekay Lng Partners by 109.4% in the first quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 853 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Teekay Lng Partners during the first quarter valued at approximately $30,000. Whittier Trust Co. bought a new position in Teekay Lng Partners during the first quarter valued at approximately $34,000. Destination Wealth Management bought a new position in Teekay Lng Partners during the first quarter valued at approximately $38,000. Finally, Icon Wealth Partners LLC bought a new position in Teekay Lng Partners during the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 29.02% of the company’s stock.
Teekay Lng Partners Company Profile
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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