Golar LNG Partners (NASDAQ:GMLP) Rating Increased to Buy at ValuEngine

ValuEngine upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, ValuEngine reports.

GMLP has been the topic of a number of other reports. Zacks Investment Research lowered shares of Golar LNG Partners from a buy rating to a sell rating in a research report on Wednesday, July 24th. TheStreet lowered shares of Golar LNG Partners from a c rating to a d+ rating in a report on Friday, June 7th. Finally, BidaskClub raised shares of Golar LNG Partners from a sell rating to a hold rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Golar LNG Partners presently has a consensus rating of Hold and an average price target of $13.83.

Shares of NASDAQ:GMLP traded down $0.45 during trading on Thursday, reaching $11.25. 12,183 shares of the company were exchanged, compared to its average volume of 157,023. The company has a market capitalization of $811.41 million, a price-to-earnings ratio of 10.84, a PEG ratio of 1.52 and a beta of 1.04. The business’s fifty day simple moving average is $11.50. Golar LNG Partners has a 12-month low of $10.23 and a 12-month high of $16.86. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 1.85.

Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Tuesday, May 21st. The shipping company reported $0.13 EPS for the quarter, missing the Zacks’ 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 return on equity of 10.05% and a net margin of 12.69%. On average, sell-side analysts expect that Golar LNG Partners will post 0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.404 dividend. This represents a $1.62 annualized dividend and a yield of 14.36%. The ex-dividend date of this dividend is Tuesday, August 6th. Golar LNG Partners’s dividend payout ratio is currently 154.29%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Golar LNG Partners by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 61,003 shares of the shipping company’s stock worth $658,000 after purchasing an additional 3,101 shares during the last quarter. FMR LLC grew its holdings in Golar LNG Partners by 1.3% in the fourth quarter. FMR LLC now owns 6,976,827 shares of the shipping company’s stock worth $75,350,000 after purchasing an additional 86,367 shares during the last quarter. Deutsche Bank AG grew its holdings in Golar LNG Partners by 1,099.7% in the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock worth $128,000 after purchasing an additional 10,997 shares during the last quarter. Lavaca Capital LLC purchased a new position in Golar LNG Partners in the first quarter worth $39,000. Finally, Sippican Capital Advisors grew its holdings in Golar LNG Partners by 25.9% in the first quarter. Sippican Capital Advisors now owns 15,920 shares of the shipping company’s stock worth $206,000 after purchasing an additional 3,275 shares during the last quarter. 32.11% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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