Golar LNG Partners LP (NASDAQ:GMLP) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Monday.
Several other research analysts have also recently weighed in on GMLP. Zacks Investment Research cut shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Golar LNG Partners in a research note on Monday, June 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 price target (down previously from $24.00) on shares of Golar LNG Partners in a research note on Tuesday, June 13th. ValuEngine cut shares of Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 3rd. Finally, Seaport Global Securities reissued a “neutral” rating and issued a $22.00 price objective on shares of Golar LNG Partners in a research report on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $23.25.
Golar LNG Partners (NASDAQ:GMLP) opened at 22.33 on Monday. The firm has a 50-day moving average of $20.78 and a 200 day moving average of $21.89. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 8.04 and a beta of 0.93. Golar LNG Partners has a 52-week low of $17.72 and a 52-week high of $25.82.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Wednesday, May 31st. The shipping company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.11. Golar LNG Partners had a net margin of 40.50% and a return on equity of 28.97%. The firm had revenue of $101.39 million during the quarter, compared to the consensus estimate of $100.79 million. On average, equities research analysts forecast that Golar LNG Partners will post $2.42 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its position in Golar LNG Partners by 21.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,035 shares of the shipping company’s stock worth $112,000 after buying an additional 890 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new position in Golar LNG Partners during the first quarter worth approximately $201,000. Alliancebernstein L.P. acquired a new position in Golar LNG Partners during the first quarter worth approximately $216,000. HighTower Advisors LLC acquired a new position in Golar LNG Partners during the first quarter worth approximately $222,000. Finally, Winslow Evans & Crocker Inc. boosted its position in Golar LNG Partners by 46.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,876 shares of the shipping company’s stock worth $265,000 after buying an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 77.26% of the company’s stock.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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