ABN Amro began coverage on shares of Golar LNG Partners LP (NASDAQ:GMLP) in a research note released on Monday morning, MarketBeat Ratings reports. The firm issued a buy rating on the shipping company’s stock.
Other analysts have also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating and issued a $26.00 price objective on shares of Golar LNG Partners in a research note on Tuesday, September 26th. BidaskClub upgraded Golar LNG Partners from a hold rating to a buy rating in a research note on Monday, July 31st. Stifel Nicolaus reiterated a hold rating and issued a $23.00 price objective on shares of Golar LNG Partners in a research note on Friday, July 14th. Zacks Investment Research cut Golar LNG Partners from a hold rating to a sell rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Golar LNG Partners from a buy rating to a strong-buy rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $23.25.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Wednesday, August 30th. The shipping company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.12% and a net margin of 43.94%.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Stockholders of record on Monday, October 30th will be paid a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 10.61%. The ex-dividend date of this dividend is Friday, October 27th. Golar LNG Partners’s payout ratio is currently 77.78%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in Golar LNG Partners by 12.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,655 shares of the shipping company’s stock valued at $113,000 after buying an additional 620 shares in the last quarter. Alliancebernstein L.P. raised its stake in Golar LNG Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock valued at $205,000 after buying an additional 572 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Golar LNG Partners in the first quarter valued at $222,000. PNC Financial Services Group Inc. raised its stake in Golar LNG Partners by 13.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock valued at $271,000 after buying an additional 1,474 shares in the last quarter. Finally, KCG Holdings Inc. acquired a new stake in Golar LNG Partners in the first quarter valued at $300,000. Institutional investors and hedge funds own 44.80% 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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