Golar LNG Partners (NASDAQ:GMLP) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Monday.
Other analysts also recently issued reports about the company. BidaskClub upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. B. Riley decreased their target price on Golar LNG Partners from $23.00 to $17.00 and set a “hold” rating on the stock in a research report on Friday, June 8th. Stifel Nicolaus decreased their target price on Golar LNG Partners from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, June 1st. Finally, Bank of America decreased their target price on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $21.80.
Get Golar LNG Partners alerts:GMLP traded up $0.02 during trading on Monday, reaching $15.48. 217,573 shares of the stock were exchanged, compared to its average volume of 399,449. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.71 and a current ratio of 1.73. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 1.59 and a beta of 0.87. Golar LNG Partners has a 1 year low of $14.27 and a 1 year high of $23.46.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Thursday, May 31st. The shipping company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.12. The company had revenue of $74.21 million for the quarter, compared to the consensus estimate of $77.64 million. Golar LNG Partners had a return on equity of 16.74% and a net margin of 29.68%. analysts predict that Golar LNG Partners will post 1.22 EPS for the current fiscal year.
Golar LNG Partners announced that its Board of Directors has initiated a stock buyback plan on Monday, March 5th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the shipping company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
Several large investors have recently modified their holdings of GMLP. California Public Employees Retirement System lifted its position in shares of Golar LNG Partners by 1.8% in the fourth quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock valued at $3,530,000 after acquiring an additional 2,679 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Golar LNG Partners by 2.1% in the fourth quarter. Wells Fargo & Company MN now owns 130,671 shares of the shipping company’s stock valued at $2,978,000 after acquiring an additional 2,631 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Golar LNG Partners by 47.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,541 shares of the shipping company’s stock valued at $446,000 after acquiring an additional 6,300 shares in the last quarter. BlackRock Inc. lifted its position in shares of Golar LNG Partners by 67.1% in the fourth quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock valued at $3,434,000 after acquiring an additional 60,476 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Golar LNG Partners by 43.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock valued at $3,627,000 after acquiring an additional 48,191 shares in the last quarter. Institutional investors and hedge funds own 41.49% 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.
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