Hoegh LNG Partners LP (HMLP) Cut to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a sell rating to a strong sell rating in a report published on Thursday morning.

Several other brokerages also recently issued reports on HMLP. Zacks Investment Research downgraded shares of Hoegh LNG Partners from a hold rating to a strong sell rating in a research note on Tuesday, July 25th. Morgan Stanley reissued an overweight rating and set a $20.50 price objective (down previously from $22.00) on shares of Hoegh LNG Partners in a research note on Tuesday, June 13th. TheStreet raised shares of Hoegh LNG Partners from a d rating to a c+ rating in a research note on Monday, August 7th. Barclays PLC raised shares of Hoegh LNG Partners from an equal weight rating to an overweight rating and upped their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, July 18th. Finally, ValuEngine downgraded shares of Hoegh LNG Partners from a buy rating to a hold rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Hoegh LNG Partners currently has a consensus rating of Hold and an average price target of $21.30.

Shares of Hoegh LNG Partners (HMLP) opened at 18.45 on Thursday. Hoegh LNG Partners has a one year low of $17.05 and a one year high of $20.65. The stock’s 50 day moving average is $18.59 and its 200-day moving average is $19.21. The firm has a market cap of $607.37 million and a P/E ratio of 9.06.

Hoegh LNG Partners (NASDAQ:HMLP) last announced its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $35.02 million for the quarter, compared to analysts’ expectations of $31.94 million. Hoegh LNG Partners had a net margin of 34.87% and a return on equity of 13.48%. Analysts anticipate that Hoegh LNG Partners will post $1.49 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of HMLP. Van ECK Associates Corp purchased a new position in Hoegh LNG Partners during the first quarter worth approximately $2,835,000. Bank of America Corp DE raised its stake in Hoegh LNG Partners by 179.6% during the first quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock worth $2,135,000 after purchasing an additional 69,793 shares during the period. Green Square Capital LLC raised its stake in Hoegh LNG Partners by 204.6% during the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock worth $1,462,000 after purchasing an additional 49,983 shares during the period. Renaissance Technologies LLC raised its stake in Hoegh LNG Partners by 70.0% during the first quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock worth $2,203,000 after purchasing an additional 46,140 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its stake in Hoegh LNG Partners by 1.9% during the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock worth $43,988,000 after purchasing an additional 43,400 shares during the period.

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.

Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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