Brokerages expect Teekay LNG Partners L.P. (NYSE:TGP) to post $110.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Teekay LNG Partners’ earnings. The highest sales estimate is $112.42 million and the lowest is $108.73 million. Teekay LNG Partners reported sales of $100.47 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Teekay LNG Partners will report full-year sales of $110.99 million for the current financial year, with estimates ranging from $411.20 million to $425.67 million. For the next fiscal year, analysts expect that the business will post sales of $520.80 million per share, with estimates ranging from $492.55 million to $570.98 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Teekay LNG Partners.
Several equities analysts have recently issued reports on TGP shares. UBS lowered their price target on Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price target on shares of Teekay LNG Partners in a research report on Friday, October 13th. Finally, Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.50.
Several hedge funds have recently modified their holdings of the company. CNH Partners LLC increased its position in shares of Teekay LNG Partners by 1.0% during the 2nd quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock valued at $315,000 after purchasing an additional 200 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Teekay LNG Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock worth $205,000 after acquiring an additional 746 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Teekay LNG Partners by 30.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 37,855 shares of the shipping company’s stock worth $581,000 after acquiring an additional 8,794 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Teekay LNG Partners in the 2nd quarter worth $249,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Teekay LNG Partners in the 3rd quarter worth $306,000. Institutional investors own 36.23% of the company’s stock.
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Teekay LNG Partners Company Profile
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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