Golar LNG Partners (NASDAQ:GMLP) Rating Lowered to Sell at ValuEngine

ValuEngine cut shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research report sent to investors on Monday, February 4th.

Several other equities analysts have also recently issued reports on the company. Jefferies Financial Group reiterated a buy rating on shares of Golar LNG Partners in a research report on Friday, December 7th. Deutsche Bank started coverage on Golar LNG Partners in a research report on Wednesday, October 10th. They set a hold rating and a $14.00 target price on the stock. Zacks Investment Research cut Golar LNG Partners from a buy rating to a hold rating in a research report on Tuesday, December 18th. BidaskClub upgraded Golar LNG Partners from a sell rating to a hold rating in a research report on Friday, January 4th. Finally, B. Riley set a $17.00 price target on Golar LNG Partners and gave the stock a hold rating in a report on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Golar LNG Partners presently has a consensus rating of Hold and an average target price of $14.71.

NASDAQ GMLP traded down $0.94 on Monday, hitting $11.96. 1,379,176 shares of the company’s stock were exchanged, compared to its average volume of 282,825. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.65. Golar LNG Partners has a fifty-two week low of $10.23 and a fifty-two week high of $21.00. The stock has a market capitalization of $976.63 million, a price-to-earnings ratio of 11.39, a PEG ratio of 1.48 and a beta of 1.16.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Monday, February 11th were issued a $0.4042 dividend. The ex-dividend date of this dividend was Friday, February 8th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 13.52%. This is a boost from Golar LNG Partners’s previous quarterly dividend of $0.40. Golar LNG Partners’s dividend payout ratio is currently 154.29%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stockman Wealth Management Inc. grew its holdings in shares of Golar LNG Partners by 6.0% in the 4th quarter. Stockman Wealth Management Inc. now owns 14,050 shares of the shipping company’s stock worth $152,000 after acquiring an additional 800 shares during the period. Peak Asset Management LLC grew its holdings in Golar LNG Partners by 2.9% during the 4th quarter. Peak Asset Management LLC now owns 42,837 shares of the shipping company’s stock valued at $463,000 after buying an additional 1,227 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Golar LNG Partners by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after buying an additional 1,240 shares during the last quarter. SeaBridge Investment Advisors LLC grew its holdings in Golar LNG Partners by 100.0% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock valued at $43,000 after buying an additional 2,000 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in Golar LNG Partners by 1.6% during the 4th quarter. Rafferty Asset Management LLC now owns 138,411 shares of the shipping company’s stock valued at $1,495,000 after buying an additional 2,116 shares during the last quarter. Institutional investors and hedge funds own 35.79% of the company’s stock.

About Golar LNG Partners

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 April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

See Also: Purposes and Functions of the Federal Reserve

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.