GasLog Partners LP (GLOP) Stock Rating Lowered by Zacks Investment Research

GasLog Partners LP (NYSE:GLOP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday.

According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “

GLOP has been the topic of several other reports. BidaskClub upgraded GasLog Partners from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Barclays PLC dropped their target price on GasLog Partners from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. ValuEngine upgraded GasLog Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 21st. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 target price on shares of GasLog Partners in a report on Tuesday, July 4th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $27.00 target price on shares of GasLog Partners in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. GasLog Partners presently has a consensus rating of “Hold” and a consensus price target of $26.40.

GasLog Partners (NYSE:GLOP) last announced its earnings results on Thursday, October 26th. The shipping company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $72.11 million. GasLog Partners had a net margin of 34.89% and a return on equity of 12.44%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kayne Anderson Capital Advisors LP grew its stake in GasLog Partners by 1.2% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,371,233 shares of the shipping company’s stock valued at $53,696,000 after purchasing an additional 29,000 shares in the last quarter. FMR LLC grew its stake in GasLog Partners by 2.9% during the 2nd quarter. FMR LLC now owns 2,107,378 shares of the shipping company’s stock valued at $47,732,000 after purchasing an additional 59,678 shares in the last quarter. Global X Management Co. LLC grew its stake in GasLog Partners by 51.2% during the 2nd quarter. Global X Management Co. LLC now owns 549,001 shares of the shipping company’s stock valued at $12,435,000 after purchasing an additional 185,941 shares in the last quarter. JPMorgan Chase & Co. grew its stake in GasLog Partners by 1.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 466,855 shares of the shipping company’s stock valued at $10,574,000 after purchasing an additional 8,027 shares in the last quarter. Finally, Cannell Peter B & Co. Inc. grew its stake in GasLog Partners by 103.4% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 290,750 shares of the shipping company’s stock valued at $6,585,000 after purchasing an additional 147,775 shares in the last quarter. Hedge funds and other institutional investors own 39.84% of the company’s stock.

GasLog Partners Company Profile

GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.

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