Hoegh LNG Partners LP (NASDAQ:HMLP) was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, July 18th, MarketBeat reports. The firm presently has a $22.00 price objective on the shipping company’s stock, up from their prior price objective of $21.00. Barclays PLC’s target price suggests a potential upside of 11.96% from the company’s current price.
Other equities analysts also recently issued reports about the stock. Morgan Stanley restated an “overweight” rating and issued a $20.50 target price (down from $22.00) on shares of Hoegh LNG Partners in a research note on Tuesday, June 13th. BidaskClub downgraded shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Finally, ValuEngine downgraded shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Hoegh LNG Partners currently has an average rating of “Buy” and a consensus price target of $21.10.
Hoegh LNG Partners (NASDAQ HMLP) remained flat at $19.65 during mid-day trading on Tuesday. 105,860 shares of the company were exchanged. The stock’s 50 day moving average price is $19.12 and its 200 day moving average price is $19.40. The stock has a market cap of $646.70 million and a PE ratio of 9.99. Hoegh LNG Partners has a 52-week low of $17.05 and a 52-week high of $20.65.
Hoegh LNG Partners (NASDAQ:HMLP) last issued its earnings results on Wednesday, May 24th. The shipping company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business had revenue of $35.08 million for the quarter, compared to the consensus estimate of $30.17 million. Hoegh LNG Partners had a net margin of 106.97% and a return on equity of 33.57%. On average, equities analysts predict that Hoegh LNG Partners will post $1.64 earnings per share for the current year.
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A number of large investors have recently bought and sold shares of HMLP. UBS Group AG boosted its stake in Hoegh LNG Partners by 27.1% in the first quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock worth $182,000 after buying an additional 1,978 shares during the last quarter. BB&T Corp purchased a new stake in Hoegh LNG Partners during the second quarter worth approximately $192,000. Stifel Financial Corp purchased a new stake in Hoegh LNG Partners during the first quarter worth approximately $354,000. Acadian Asset Management LLC purchased a new stake in Hoegh LNG Partners during the second quarter worth approximately $428,000. Finally, Nwam LLC boosted its position in Hoegh LNG Partners by 2.8% in the first quarter. Nwam LLC now owns 50,440 shares of the shipping company’s stock worth $991,000 after buying an additional 1,364 shares in the last quarter.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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