Golar LNG Partners (GMLP) Given Average Recommendation of “Hold” by Brokerages

Golar LNG Partners (NASDAQ:GMLP) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $23.60.

Several equities analysts have recently issued reports on the company. ValuEngine lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Seaport Global Securities reaffirmed a “hold” rating and issued a $21.00 target price on shares of Golar LNG Partners in a report on Tuesday, February 27th. BidaskClub lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Wednesday, February 21st. Zacks Investment Research downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus upgraded Golar LNG Partners from a “hold” rating to a “buy” rating and upped their price objective for the company from $23.00 to $25.00 in a research note on Monday, December 18th.

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GMLP stock opened at $17.11 on Friday. The company has a market capitalization of $1,218.10, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.73 and a quick ratio of 1.71. Golar LNG Partners has a 12-month low of $16.82 and a 12-month high of $23.49.

Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Wednesday, February 28th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.10. The company had revenue of $90.11 million during the quarter, compared to analyst estimates of $87.09 million. Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%. analysts anticipate that Golar LNG Partners will post 1.16 earnings per share for the current fiscal year.

Golar LNG Partners declared that its board has approved a stock repurchase plan on Monday, March 5th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the shipping company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA purchased a new position in Golar LNG Partners in the third quarter valued at approximately $108,000. SeaCrest Wealth Management LLC purchased a new position in Golar LNG Partners in the fourth quarter valued at approximately $107,000. Cetera Advisors LLC purchased a new position in Golar LNG Partners in the fourth quarter valued at approximately $201,000. Koch Industries Inc. purchased a new stake in shares of Golar LNG Partners during the fourth quarter worth $239,000. Finally, Jane Street Group LLC purchased a new stake in shares of Golar LNG Partners during the third quarter worth $344,000. Institutional investors and hedge funds own 43.99% of the company’s stock.

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About Golar LNG Partners

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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