Golar LNG Partners (GMLP) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a sell rating to a hold rating in a research report released on Tuesday.

GMLP has been the subject of several other reports. Zacks Investment Research raised Golar LNG Partners from a hold rating to a buy rating and set a $13.00 price objective for the company in a research note on Monday, December 10th. B. Riley set a $17.00 price objective on Golar LNG Partners and gave the company a hold rating in a research note on Thursday, February 28th. BidaskClub raised Golar LNG Partners from a hold rating to a buy rating in a research note on Saturday, January 12th. Jefferies Financial Group reaffirmed a buy rating on shares of Golar LNG Partners in a research note on Friday, December 7th. Finally, Bank of America downgraded Golar LNG Partners from a neutral rating to an underperform rating and set a $12.00 price objective for the company. in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $14.71.

NASDAQ GMLP opened at $12.70 on Tuesday. Golar LNG Partners has a 1-year low of $10.23 and a 1-year high of $21.00. The company has a market capitalization of $908.95 million, a P/E ratio of 12.10, a PEG ratio of 1.45 and a beta of 1.17. The company has a quick ratio of 0.50, a current ratio of 0.51 and a debt-to-equity ratio of 1.48.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Monday, February 11th were given a dividend of $0.4042 per share. This is an increase from Golar LNG Partners’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, February 8th. This represents a $1.62 annualized dividend and a yield of 12.73%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 154.29%.

Institutional investors have recently added to or reduced their stakes in the business. SeaBridge Investment Advisors LLC increased its position in Golar LNG Partners by 100.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock worth $43,000 after buying an additional 2,000 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Golar LNG Partners by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock worth $123,000 after buying an additional 1,240 shares in the last quarter. Stockman Wealth Management Inc. increased its position in Golar LNG Partners by 6.0% during the fourth quarter. Stockman Wealth Management Inc. now owns 14,050 shares of the shipping company’s stock worth $152,000 after buying an additional 800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Golar LNG Partners during the fourth quarter worth $195,000. Finally, Old Port Advisors purchased a new position in Golar LNG Partners during the fourth quarter worth $294,000. 33.63% of the stock is owned by institutional investors.

About Golar LNG Partners

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 April 6, 2018, 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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