Teekay Lng Partners (NYSE:TGP) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Monday, February 4th.
Several other brokerages also recently issued reports on TGP. Stifel Nicolaus raised shares of Teekay Lng Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, November 28th. TheStreet raised shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Monday, November 26th. Zacks Investment Research raised shares of Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a research report on Saturday, December 1st. Deutsche Bank began coverage on shares of Teekay Lng Partners in a research report on Wednesday, October 10th. They set a “hold” rating and a $17.00 price target for the company. Finally, Jefferies Financial Group reissued a “neutral” rating on shares of Teekay Lng Partners in a research report on Tuesday, November 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Teekay Lng Partners currently has a consensus rating of “Hold” and an average target price of $17.00.
TGP stock traded down $0.32 during trading on Monday, reaching $13.92. 280,154 shares of the company were exchanged, compared to its average volume of 304,385. Teekay Lng Partners has a 52-week low of $10.74 and a 52-week high of $19.45. The company has a market cap of $1.13 billion, a P/E ratio of 18.32 and a beta of 1.52. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.83.
Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Teekay Lng Partners had a net margin of 11.19% and a return on equity of 4.99%. The business had revenue of $143.28 million during the quarter, compared to analysts’ expectations of $138.17 million. On average, equities research analysts expect that Teekay Lng Partners will post 1.76 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in shares of Teekay Lng Partners by 21.2% in the third quarter. Wells Fargo & Company MN now owns 193,278 shares of the shipping company’s stock valued at $3,228,000 after purchasing an additional 33,799 shares during the period. Renaissance Technologies LLC bought a new position in Teekay Lng Partners during the 2nd quarter valued at $3,510,000. LPL Financial LLC bought a new position in Teekay Lng Partners during the 3rd quarter valued at $218,000. ING Groep NV boosted its stake in Teekay Lng Partners by 394.7% during the 3rd quarter. ING Groep NV now owns 84,600 shares of the shipping company’s stock valued at $1,413,000 after acquiring an additional 67,500 shares during the last quarter. Finally, Gator Capital Management LLC boosted its stake in Teekay Lng Partners by 17.0% during the 3rd quarter. Gator Capital Management LLC now owns 55,030 shares of the shipping company’s stock valued at $371,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors and hedge funds own 30.41% of the company’s stock.
About Teekay Lng Partners
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 two segments, Liquefied Gas and 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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