Analysts Set Teekay Lng Partners, L.P. (NYSE:TGP) PT at $17.00

Teekay Lng Partners, L.P. (NYSE:TGP) has been assigned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $17.00.

TGP has been the topic of several research analyst reports. TheStreet cut shares of Teekay Lng Partners from a “c” rating to a “d+” rating in a research note on Friday, February 22nd. ValuEngine upgraded shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research cut shares of Teekay Lng Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th.

Shares of TGP stock opened at $13.36 on Tuesday. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 17.58 and a beta of 1.52. Teekay Lng Partners has a 52 week low of $10.74 and a 52 week high of $17.50. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.89 and a current ratio of 0.89.

Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, May 23rd. The shipping company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.33 by $0.01. The business had revenue of $149.74 million for the quarter, compared to analysts’ expectations of $151.96 million. Teekay Lng Partners had a net margin of 10.92% and a return on equity of 5.75%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. As a group, equities analysts expect that Teekay Lng Partners will post 1.82 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 5.69%. This is a boost from Teekay Lng Partners’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, May 6th. Teekay Lng Partners’s dividend payout ratio is currently 100.00%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of Teekay Lng Partners by 109.4% during the 1st quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock valued at $25,000 after buying an additional 853 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Teekay Lng Partners during the 1st quarter valued at about $30,000. Rockefeller Capital Management L.P. raised its position in shares of Teekay Lng Partners by 2,928.6% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,120 shares of the shipping company’s stock valued at $32,000 after buying an additional 2,050 shares in the last quarter. Whittier Trust Co. purchased a new stake in shares of Teekay Lng Partners during the 1st quarter valued at about $34,000. Finally, Destination Wealth Management purchased a new stake in shares of Teekay Lng Partners during the 1st quarter valued at about $38,000. Hedge funds and other institutional investors own 28.75% of the company’s stock.

Teekay Lng Partners Company Profile

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

Further Reading: Cost of Equity For A Business, Investors

Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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