Short Interest in Hoegh LNG Partners LP (NYSE:HMLP) Decreases By 40.8%

Hoegh LNG Partners LP (NYSE:HMLP) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 33,900 shares, a decline of 40.8% from the July 31st total of 57,300 shares. Based on an average daily volume of 105,500 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.2% of the company’s stock are short sold.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. acquired a new position in shares of Hoegh LNG Partners in the second quarter valued at approximately $8,376,000. Globeflex Capital L P increased its holdings in shares of Hoegh LNG Partners by 29.9% in the first quarter. Globeflex Capital L P now owns 347,310 shares of the shipping company’s stock valued at $6,790,000 after purchasing an additional 80,034 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Hoegh LNG Partners by 9.7% in the second quarter. Renaissance Technologies LLC now owns 681,400 shares of the shipping company’s stock valued at $11,788,000 after purchasing an additional 60,500 shares during the period. Morgan Stanley increased its holdings in shares of Hoegh LNG Partners by 8.6% in the second quarter. Morgan Stanley now owns 411,930 shares of the shipping company’s stock valued at $7,127,000 after purchasing an additional 32,623 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in shares of Hoegh LNG Partners in the second quarter valued at approximately $422,000. 24.45% of the stock is currently owned by institutional investors.

HMLP traded up $0.13 during trading on Friday, hitting $15.55. 81,100 shares of the stock were exchanged, compared to its average volume of 92,981. The firm has a market capitalization of $514.42 million, a P/E ratio of 8.54, a PEG ratio of 10.42 and a beta of 1.03. Hoegh LNG Partners has a 1-year low of $14.05 and a 1-year high of $19.98. The stock has a fifty day moving average price of $16.14 and a two-hundred day moving average price of $17.81. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.13.

Hoegh LNG Partners (NYSE:HMLP) last released its quarterly earnings results on Thursday, August 22nd. The shipping company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.27). The firm had revenue of $33.78 million for the quarter, compared to analyst estimates of $35.27 million. Hoegh LNG Partners had a return on equity of 17.76% and a net margin of 38.82%. The company’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. Analysts predict that Hoegh LNG Partners will post 1.45 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 11.32%. The ex-dividend date was Wednesday, July 31st. Hoegh LNG Partners’s dividend payout ratio (DPR) is 96.70%.

Several equities research analysts recently weighed in on the company. B. Riley set a $21.00 target price on Hoegh LNG Partners and gave the stock a “buy” rating in a research note on Thursday, August 22nd. ValuEngine lowered Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. TheStreet lowered Hoegh LNG Partners from a “b-” rating to a “c+” rating in a research report on Thursday, August 8th. Citigroup cut their price target on Hoegh LNG Partners from $19.50 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Zacks Investment Research raised Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

Hoegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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