Golar LNG Partners LP (NASDAQ:GMLP)’s stock price rose 5.6% during mid-day trading on Tuesday . The stock traded as high as $2.62 and last traded at $2.62, approximately 114,032 shares traded hands during mid-day trading. A decline of 81% from the average daily volume of 613,234 shares. The stock had previously closed at $2.48.
GMLP has been the subject of several research analyst reports. ValuEngine cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 2nd. Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Thursday, March 26th. BidaskClub lowered Golar LNG Partners from a “sell” rating to a “strong sell” rating in a report on Friday, March 6th. B. Riley dropped their target price on Golar LNG Partners from $10.00 to $4.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Evercore ISI raised Golar LNG Partners from an “in-line” rating to an “outperform” rating in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $7.46.
The stock has a market capitalization of $176.02 million, a price-to-earnings ratio of -52.00, a price-to-earnings-growth ratio of 0.42 and a beta of 0.95. The firm has a fifty day moving average of $2.43 and a 200 day moving average of $5.49. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.49 and a quick ratio of 0.47.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.08 annualized dividend and a yield of 3.05%. Golar LNG Partners’s payout ratio is 9.88%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in Golar LNG Partners during the 1st quarter worth $32,000. Morgan Stanley boosted its position in shares of Golar LNG Partners by 48.0% during the 1st quarter. Morgan Stanley now owns 437,595 shares of the shipping company’s stock worth $1,470,000 after acquiring an additional 141,833 shares in the last quarter. Searle & CO. acquired a new position in shares of Golar LNG Partners during the 1st quarter worth about $42,000. GSA Capital Partners LLP boosted its position in shares of Golar LNG Partners by 872.3% during the 1st quarter. GSA Capital Partners LLP now owns 130,284 shares of the shipping company’s stock worth $438,000 after acquiring an additional 116,885 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Golar LNG Partners by 16.1% during the 1st quarter. UBS Group AG now owns 177,137 shares of the shipping company’s stock worth $595,000 after acquiring an additional 24,504 shares in the last quarter. 29.13% of the stock is owned by hedge funds and other institutional investors.
About Golar LNG Partners (NASDAQ:GMLP)
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.
Further Reading: Diluted Earnings Per Share
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