Hoegh LNG Partners LP Plans Quarterly Dividend of $0.44 (HMLP)

Hoegh LNG Partners LP (NYSE:HMLP) declared a quarterly dividend on Thursday, October 18th, NASDAQ reports. Investors of record on Thursday, November 1st will be given a dividend of 0.44 per share by the shipping company on Wednesday, November 14th. This represents a $1.76 annualized dividend and a yield of 9.98%. The ex-dividend date of this dividend is Wednesday, October 31st.

Hoegh LNG Partners has increased its dividend by an average of 110.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Hoegh LNG Partners has a dividend payout ratio of 105.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Hoegh LNG Partners to earn $1.73 per share next year, which means the company may not be able to cover its $1.76 annual dividend with an expected future payout ratio of 101.7%.

NYSE HMLP opened at $17.63 on Tuesday. Hoegh LNG Partners has a 1-year low of $15.32 and a 1-year high of $19.85. The company has a market capitalization of $585.26 million, a P/E ratio of 12.96, a PEG ratio of 0.72 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.10.

Hoegh LNG Partners (NYSE:HMLP) last released its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.13. Hoegh LNG Partners had a return on equity of 14.66% and a net margin of 46.62%. The firm had revenue of $36.61 million during the quarter, compared to the consensus estimate of $36.19 million. During the same period last year, the business posted $0.30 EPS. Hoegh LNG Partners’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Hoegh LNG Partners will post 1.68 EPS for the current fiscal year.

A number of equities research analysts have commented on the company. ValuEngine upgraded Hoegh LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 28th. B. Riley assumed coverage on Hoegh LNG Partners in a report on Wednesday, September 5th. They set a “buy” rating and a $21.00 target price on the stock. Berenberg Bank assumed coverage on Hoegh LNG Partners in a report on Thursday, September 6th. They set a “hold” rating and a $19.00 target price on the stock. Zacks Investment Research upgraded Hoegh LNG Partners from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, October 10th. Finally, DNB Markets cut Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.83.

Hoegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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Dividend History for Hoegh LNG Partners (NYSE:HMLP)

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