Bank of America Corp DE boosted its stake in shares of Teekay LNG Partners L.P. (NYSE:TGP) by 135.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,071 shares of the shipping company’s stock after buying an additional 39,781 shares during the period. Bank of America Corp DE owned approximately 0.09% of Teekay LNG Partners L.P. worth $1,212,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of TGP. Creative Planning raised its stake in Teekay LNG Partners L.P. by 17.4% in the first quarter. Creative Planning now owns 8,619 shares of the shipping company’s stock valued at $151,000 after buying an additional 1,275 shares in the last quarter. Blair William & Co. IL purchased a new stake in Teekay LNG Partners L.P. during the first quarter valued at about $218,000. Valmark Advisers Inc. raised its stake in Teekay LNG Partners L.P. by 9.2% in the first quarter. Valmark Advisers Inc. now owns 12,262 shares of the shipping company’s stock valued at $215,000 after buying an additional 1,031 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in Teekay LNG Partners L.P. during the first quarter valued at about $221,000. Finally, Albert D Mason Inc. raised its stake in Teekay LNG Partners L.P. by 1.1% in the first quarter. Albert D Mason Inc. now owns 16,680 shares of the shipping company’s stock valued at $293,000 after buying an additional 180 shares in the last quarter. 43.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of Teekay LNG Partners L.P. (NYSE:TGP) traded down 0.59% on Friday, reaching $16.85. The company had a trading volume of 190,812 shares. Teekay LNG Partners L.P. has a 12 month low of $12.68 and a 12 month high of $19.90. The company’s 50-day moving average is $17.50 and its 200 day moving average is $17.08. The firm has a market capitalization of $1.34 billion, a PE ratio of 9.88 and a beta of 1.20.
Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings data on Thursday, August 3rd. The shipping company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.12. Teekay LNG Partners L.P. had a return on equity of 6.12% and a net margin of 38.28%. The firm had revenue of $99.91 million during the quarter, compared to the consensus estimate of $103.31 million. Equities analysts forecast that Teekay LNG Partners L.P. will post $1.69 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Friday, August 4th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.56 annualized dividend and a dividend yield of 3.32%. Teekay LNG Partners L.P.’s dividend payout ratio (DPR) is presently 32.75%.
Several equities research analysts recently issued reports on the company. TheStreet lowered Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a research report on Thursday, August 3rd. ValuEngine raised Teekay LNG Partners L.P. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Stifel Nicolaus reissued a “hold” rating and set a $16.00 price target on shares of Teekay LNG Partners L.P. in a research report on Thursday, July 6th. Zacks Investment Research lowered Teekay LNG Partners L.P. from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, BidaskClub downgraded Teekay LNG Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Teekay LNG Partners L.P. currently has a consensus rating of “Hold” and an average target price of $16.60.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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