Other equities analysts have also issued reports about the company. Barclays set a $17.00 target price on Hoegh LNG Partners and gave the company a hold rating in a research note on Tuesday, October 15th. Citigroup lowered Hoegh LNG Partners from a buy rating to a sell rating and decreased their price target for the stock from $16.00 to $14.00 in a research note on Tuesday, October 29th. Zacks Investment Research upgraded Hoegh LNG Partners from a sell rating to a hold rating in a report on Friday, November 22nd. DNB Markets upgraded Hoegh LNG Partners from a sell rating to a hold rating in a report on Friday, November 22nd. Finally, TheStreet downgraded shares of Hoegh LNG Partners from a b- rating to a c+ rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Hoegh LNG Partners presently has a consensus rating of Hold and an average price target of $18.00.
Shares of NYSE HMLP opened at $15.26 on Tuesday. Hoegh LNG Partners has a 1 year low of $14.01 and a 1 year high of $19.98. The firm’s 50 day moving average price is $15.50 and its 200 day moving average price is $16.46. The firm has a market cap of $498.33 million, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 9.69 and a beta of 1.06. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.91 and a current ratio of 0.92.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 11.53%. The ex-dividend date of this dividend was Wednesday, October 30th. Hoegh LNG Partners’s dividend payout ratio is currently 96.70%.
Several institutional investors and hedge funds have recently made changes to their positions in HMLP. Renaissance Technologies LLC lifted its stake in shares of Hoegh LNG Partners by 9.7% in the 2nd 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 in the last quarter. Invesco Ltd. acquired a new stake in Hoegh LNG Partners during the 2nd quarter worth approximately $8,376,000. Morgan Stanley raised its holdings in 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 buying an additional 32,623 shares during the period. Millennium Management LLC purchased a new position in Hoegh LNG Partners in the third quarter valued at approximately $1,823,000. Finally, Stifel Financial Corp lifted its position in Hoegh LNG Partners by 38.0% during the third quarter. Stifel Financial Corp now owns 57,481 shares of the shipping company’s stock valued at $887,000 after buying an additional 15,840 shares in the last quarter. Institutional investors own 21.65% of the company’s stock.
About Hoegh LNG Partners
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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