Arrow Investment Advisors LLC cut its holdings in shares of Golar LNG Partners LP (NASDAQ:GMLP) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,208 shares of the shipping company’s stock after selling 2,648 shares during the quarter. Arrow Investment Advisors LLC’s holdings in Golar LNG Partners were worth $500,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GMLP. JPMorgan Chase & Co. raised its stake in shares of Golar LNG Partners by 21.0% during the first quarter. JPMorgan Chase & Co. now owns 965,708 shares of the shipping company’s stock worth $16,523,000 after acquiring an additional 167,615 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of Golar LNG Partners by 126.3% during the first quarter. State of New Jersey Common Pension Fund D now owns 154,800 shares of the shipping company’s stock worth $2,649,000 after acquiring an additional 86,400 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Golar LNG Partners during the first quarter worth approximately $1,399,000. Deutsche Bank AG raised its stake in shares of Golar LNG Partners by 226.9% during the fourth quarter. Deutsche Bank AG now owns 110,500 shares of the shipping company’s stock worth $2,518,000 after acquiring an additional 76,700 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Golar LNG Partners by 16.5% during the fourth quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock worth $10,585,000 after acquiring an additional 65,759 shares in the last quarter. 42.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Golar LNG Partners stock opened at $16.77 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.71 and a debt-to-equity ratio of 1.93. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.92, a P/E/G ratio of 2.17 and a beta of 0.89. Golar LNG Partners LP has a 12-month low of $16.01 and a 12-month high of $23.46.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Monday, May 7th were given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a yield of 13.77%. The ex-dividend date was Friday, May 4th. Golar LNG Partners’s payout ratio is currently 122.87%.
Golar LNG Partners declared that its Board of Directors has initiated a share buyback plan on Monday, March 5th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the shipping company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several research analysts recently commented on GMLP shares. Zacks Investment Research raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Bank of America decreased their target price on shares of Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, March 5th. BidaskClub downgraded shares of Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 7th. B. Riley started coverage on shares of Golar LNG Partners in a research note on Thursday, May 17th. They issued a “hold” rating and a $23.00 target price on the stock. Finally, Seaport Global Securities reaffirmed a “hold” rating and issued a $21.00 target price on shares of Golar LNG Partners in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.50.
Golar LNG Partners Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs), liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company also engages in the leasing of its fleets.
Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.