Morgan Stanley Cuts GasLog Partners LP Unit (GLOP) Price Target to $26.50

GasLog Partners LP Unit (NYSE:GLOP) had its target price trimmed by Morgan Stanley from $27.00 to $26.50 in a research report report published on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the shipping company’s stock.

A number of other brokerages have also recently issued reports on GLOP. ValuEngine raised GasLog Partners LP Unit from a hold rating to a buy rating in a research report on Monday, October 22nd. B. Riley set a $27.00 target price on GasLog Partners LP Unit and gave the company a hold rating in a research report on Tuesday, July 31st. Zacks Investment Research raised GasLog Partners LP Unit from a hold rating to a buy rating and set a $28.00 target price for the company in a research report on Tuesday, September 25th. Deutsche Bank assumed coverage on GasLog Partners LP Unit in a research report on Wednesday, October 10th. They issued a hold rating and a $25.00 target price for the company. Finally, Berenberg Bank assumed coverage on GasLog Partners LP Unit in a research report on Thursday, September 6th. They issued a buy rating and a $29.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. GasLog Partners LP Unit presently has an average rating of Buy and a consensus price target of $27.44.

Shares of NYSE GLOP opened at $23.66 on Monday. The stock has a market capitalization of $970.11 million, a P/E ratio of 11.32 and a beta of 1.15. The company has a quick ratio of 1.29, a current ratio of 1.31 and a debt-to-equity ratio of 1.25. GasLog Partners LP Unit has a 52-week low of $21.85 and a 52-week high of $25.99.

GasLog Partners LP Unit (NYSE:GLOP) last announced its earnings results on Thursday, October 25th. The shipping company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $81.89 million during the quarter, compared to analysts’ expectations of $81.68 million. GasLog Partners LP Unit had a return on equity of 13.09% and a net margin of 33.57%. As a group, research analysts forecast that GasLog Partners LP Unit will post 1.76 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Monday, November 5th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 8.96%. The ex-dividend date was Friday, November 2nd. GasLog Partners LP Unit’s dividend payout ratio is presently 101.44%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in GasLog Partners LP Unit by 0.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 592,654 shares of the shipping company’s stock valued at $14,816,000 after acquiring an additional 2,160 shares during the last quarter. Barnett & Company Inc. raised its stake in GasLog Partners LP Unit by 109.8% during the 3rd quarter. Barnett & Company Inc. now owns 4,720 shares of the shipping company’s stock valued at $118,000 after acquiring an additional 2,470 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of GasLog Partners LP Unit by 13.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 28,179 shares of the shipping company’s stock worth $672,000 after buying an additional 3,269 shares in the last quarter. First Trust Advisors LP raised its stake in shares of GasLog Partners LP Unit by 1.8% during the 3rd quarter. First Trust Advisors LP now owns 231,531 shares of the shipping company’s stock worth $5,788,000 after buying an additional 3,998 shares in the last quarter. Finally, American Asset Management Inc. raised its stake in shares of GasLog Partners LP Unit by 25.7% during the 3rd quarter. American Asset Management Inc. now owns 20,716 shares of the shipping company’s stock worth $518,000 after buying an additional 4,241 shares in the last quarter. 47.48% of the stock is owned by hedge funds and other institutional investors.

About GasLog Partners LP Unit

GasLog Partners LP owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters. As of February 8, 2018, it had a fleet of 12 LNG carriers. The company was founded in 2014 and is based in Monaco.

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Analyst Recommendations for GasLog Partners LP Unit (NYSE:GLOP)

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