Stifel Nicolaus Reiterates Buy Rating for Teekay Lng Partners (NYSE:TGP)

Stifel Nicolaus reaffirmed their buy rating on shares of Teekay Lng Partners (NYSE:TGP) in a report released on Thursday morning, TipRanks reports. Stifel Nicolaus currently has a $20.00 target price on the shipping company’s stock.

Several other research firms have also recently weighed in on TGP. TheStreet upgraded Teekay Lng Partners from a d+ rating to a c rating in a research report on Thursday, August 1st. ValuEngine cut Teekay Lng Partners from a sell rating to a strong sell rating in a research report on Tuesday, October 22nd. Finally, Zacks Investment Research cut Teekay Lng Partners from a buy rating to a hold rating and set a $17.00 price target on the stock. in a research report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $17.00.

TGP stock traded down $0.08 during trading hours on Thursday, hitting $15.86. 15,934 shares of the stock were exchanged, compared to its average volume of 318,763. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $1.28 billion, a P/E ratio of 21.07 and a beta of 1.53. The company has a 50-day simple moving average of $14.22 and a two-hundred day simple moving average of $14.41. Teekay Lng Partners has a 12 month low of $10.74 and a 12 month high of $16.66.

Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings data on Wednesday, November 13th. The shipping company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. The firm had revenue of $149.70 million for the quarter, compared to analysts’ expectations of $167.28 million. Teekay Lng Partners had a return on equity of 9.24% and a net margin of 15.72%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. On average, equities research analysts predict that Teekay Lng Partners will post 1.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Thursday, October 31st. Teekay Lng Partners’s payout ratio is currently 100.00%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its position in shares of Teekay Lng Partners by 2,014.5% during the 2nd quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock valued at $29,529,000 after buying an additional 1,995,219 shares during the last quarter. O Keefe Stevens Advisory Inc. purchased a new position in shares of Teekay Lng Partners during the 2nd quarter valued at $2,320,000. Bank of Montreal Can lifted its position in shares of Teekay Lng Partners by 121.8% during the 2nd quarter. Bank of Montreal Can now owns 241,270 shares of the shipping company’s stock valued at $3,402,000 after buying an additional 132,500 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Teekay Lng Partners during the 2nd quarter valued at $1,590,000. Finally, Morgan Stanley lifted its position in shares of Teekay Lng Partners by 37.0% during the 2nd quarter. Morgan Stanley now owns 356,705 shares of the shipping company’s stock valued at $5,030,000 after buying an additional 96,278 shares during the last quarter. Institutional investors own 28.45% of the company’s stock.

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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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