Teekay Lng Partners (TGP) PT Lowered to $15.00

Teekay Lng Partners (NYSE:TGP) had its target price trimmed by Wells Fargo & Co from $22.00 to $15.00 in a research report report published on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the shipping company’s stock.

Several other research firms also recently commented on TGP. Zacks Investment Research downgraded Teekay Lng Partners from a hold rating to a sell rating in a research note on Thursday, October 4th. ValuEngine raised Teekay Lng Partners from a sell rating to a hold rating in a research note on Friday, September 28th. Deutsche Bank assumed coverage on Teekay Lng Partners in a research note on Wednesday, October 10th. They set a hold rating and a $17.00 price objective for the company. Finally, Jefferies Financial Group reaffirmed a neutral rating on shares of Teekay Lng Partners in a research note on Tuesday, November 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $17.75.

TGP opened at $12.88 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.83. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 12.88 and a beta of 1.33. Teekay Lng Partners has a 52 week low of $12.19 and a 52 week high of $21.65.

Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings data on Thursday, November 15th. The shipping company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.18). The company had revenue of $115.38 million for the quarter, compared to analysts’ expectations of $125.21 million. Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%. On average, equities research analysts expect that Teekay Lng Partners will post 0.87 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 Friday, November 2nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Thursday, November 1st. Teekay Lng Partners’s dividend payout ratio is presently 56.00%.

Hedge funds have recently modified their holdings of the company. Morgan Stanley raised its stake in shares of Teekay Lng Partners by 1.5% during the 2nd quarter. Morgan Stanley now owns 2,201,623 shares of the shipping company’s stock worth $37,097,000 after buying an additional 31,659 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Teekay Lng Partners during the 2nd quarter worth approximately $3,510,000. Russell Investments Group Ltd. purchased a new position in shares of Teekay Lng Partners during the 2nd quarter worth approximately $608,000. Gator Capital Management LLC raised its stake in shares of Teekay Lng Partners by 17.0% during the 3rd quarter. Gator Capital Management LLC now owns 55,030 shares of the shipping company’s stock worth $371,000 after buying an additional 8,000 shares in the last quarter. Finally, ING Groep NV raised its stake in shares of Teekay Lng Partners by 394.7% during the 3rd quarter. ING Groep NV now owns 84,600 shares of the shipping company’s stock worth $1,413,000 after buying an additional 67,500 shares in the last quarter. 34.23% of the stock is owned by institutional investors and hedge funds.

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 two segments, Liquefied Gas and 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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