Golar LNG Partners (NASDAQ:GMLP) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

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

Shares of GMLP stock opened at $10.26 on Friday. The company has a 50-day moving average price of $11.37. Golar LNG Partners has a twelve month low of $10.01 and a twelve month high of $15.64. The firm has a market cap of $712.46 million, a P/E ratio of 9.77, a price-to-earnings-growth ratio of 1.31 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.

Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Tuesday, May 21st. The shipping company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $68.05 million during the quarter, compared to analyst estimates of $70.94 million. On average, sell-side analysts predict that Golar LNG Partners will post 0.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.404 dividend. This represents a $1.62 annualized dividend and a yield of 15.75%. The ex-dividend date is Tuesday, August 6th. Golar LNG Partners’s dividend payout ratio (DPR) is 154.29%.

A number of institutional investors and hedge funds have recently bought and sold shares of GMLP. Muhlenkamp & Co. Inc. purchased a new stake in Golar LNG Partners in the 1st quarter valued at about $3,077,000. FMR LLC grew its holdings in Golar LNG Partners by 1.3% in the 4th quarter. FMR LLC now owns 6,976,827 shares of the shipping company’s stock valued at $75,350,000 after buying an additional 86,367 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in Golar LNG Partners by 26.5% in the 1st quarter. Duff & Phelps Investment Management Co. now owns 215,000 shares of the shipping company’s stock valued at $2,776,000 after buying an additional 45,000 shares during the period. Russell Investments Group Ltd. grew its holdings in Golar LNG Partners by 97.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 75,377 shares of the shipping company’s stock valued at $852,000 after buying an additional 37,174 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Golar LNG Partners by 0.5% in the 1st quarter. OppenheimerFunds Inc. now owns 6,292,174 shares of the shipping company’s stock valued at $81,232,000 after buying an additional 33,479 shares during the period. Institutional investors own 32.08% of the company’s stock.

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 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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