ValuEngine Lowers Golar LNG Partners (NASDAQ:GMLP) to Hold

ValuEngine downgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a buy rating to a hold rating in a research note published on Wednesday, ValuEngine reports.

A number of other research analysts have also weighed in on GMLP. BidaskClub upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a research note on Friday, June 28th. TheStreet lowered shares of Golar LNG Partners from a c rating to a d+ rating in a research report on Friday, June 7th. Finally, Zacks Investment Research lowered shares of Golar LNG Partners from a buy rating to a sell rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $13.83.

Golar LNG Partners stock traded down $0.24 during mid-day trading on Wednesday, reaching $10.05. The company’s stock had a trading volume of 267,494 shares, compared to its average volume of 208,968. Golar LNG Partners has a 12-month low of $10.01 and a 12-month high of $15.64. The firm has a market cap of $712.44 million, a P/E ratio of 9.57, a P/E/G ratio of 1.35 and a beta of 1.04. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average of $11.45.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Tuesday, May 21st. The shipping company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.02). Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%. The business had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $70.94 million. Equities analysts expect that Golar LNG Partners will post 0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.404 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 16.08%. Golar LNG Partners’s dividend payout ratio (DPR) is currently 154.29%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lavaca Capital LLC purchased a new position in shares of Golar LNG Partners during the 1st quarter valued at $39,000. SeaBridge Investment Advisors LLC grew its position in Golar LNG Partners by 50.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock worth $77,000 after acquiring an additional 2,000 shares in the last quarter. Regent Investment Management LLC purchased a new position in Golar LNG Partners in the first quarter worth $142,000. Deutsche Bank AG grew its position in Golar LNG Partners by 1,099.7% in the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock worth $128,000 after acquiring an additional 10,997 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Golar LNG Partners in the second quarter worth $174,000. Hedge funds and other institutional investors own 32.11% of the company’s stock.

Golar LNG Partners Company Profile

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 March 15, 2019, 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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