Teekay LNG Partners Target of Unusually Large Options Trading (NYSE:TGP)

Teekay LNG Partners L.P. (NYSE:TGP) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 6,453 call options on the stock. This is an increase of 2,148% compared to the typical volume of 287 call options.

A number of brokerages have weighed in on TGP. B. Riley lowered shares of Teekay LNG Partners from a “buy” rating to a “neutral” rating in a report on Monday, October 4th. Zacks Investment Research upgraded shares of Teekay LNG Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Jonestrading lowered shares of Teekay LNG Partners from a “buy” rating to a “hold” rating in a report on Monday, October 4th. Stifel Nicolaus lowered shares of Teekay LNG Partners from a “buy” rating to a “hold” rating and decreased their price target for the company from $18.00 to $17.00 in a report on Tuesday, October 5th. Finally, Jefferies Financial Group set a $15.03 target price on shares of Teekay LNG Partners and gave the company a “neutral” rating in a report on Tuesday, July 13th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.01.

Teekay LNG Partners stock opened at $17.18 on Thursday. Teekay LNG Partners has a 12-month low of $10.12 and a 12-month high of $17.24. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 7.99 and a beta of 1.24. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s fifty day moving average price is $15.30 and its 200 day moving average price is $15.11.

Teekay LNG Partners (NYSE:TGP) last released its quarterly earnings results on Thursday, August 5th. The shipping company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.06). The firm had revenue of $142.41 million for the quarter, compared to analysts’ expectations of $139.53 million. Teekay LNG Partners had a return on equity of 15.62% and a net margin of 35.78%. Analysts forecast that Teekay LNG Partners will post 2.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, August 5th were given a $0.287 dividend. This represents a $1.15 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend was Wednesday, August 4th. Teekay LNG Partners’s payout ratio is currently 46.94%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TGP. Commonwealth Equity Services LLC acquired a new stake in Teekay LNG Partners during the first quarter valued at approximately $168,000. Bank of Montreal Can raised its holdings in shares of Teekay LNG Partners by 10,272.7% during the first quarter. Bank of Montreal Can now owns 79,870 shares of the shipping company’s stock valued at $1,179,000 after acquiring an additional 79,100 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Teekay LNG Partners by 7.7% during the first quarter. Neuberger Berman Group LLC now owns 357,880 shares of the shipping company’s stock valued at $5,150,000 after acquiring an additional 25,600 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in shares of Teekay LNG Partners during the first quarter valued at approximately $245,000. Finally, Royal Bank of Canada raised its holdings in shares of Teekay LNG Partners by 316.1% during the first quarter. Royal Bank of Canada now owns 152,098 shares of the shipping company’s stock valued at $2,189,000 after acquiring an additional 115,541 shares during the period. 21.45% of the stock is owned by institutional investors.

About Teekay LNG Partners

Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: LNG, LPG and conventional tanker. The company was founded on November 3, 2004 and is headquartered in Hamilton, Bermuda.

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