Hoegh LNG Partners LP (HMLP) Rating Lowered to Strong Sell at BidaskClub

Hoegh LNG Partners LP (NASDAQ:HMLP) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Friday.

HMLP has been the subject of a number of other research reports. Citigroup Inc. upped their price objective on shares of Hoegh LNG Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Barclays PLC upgraded shares of Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. TheStreet upgraded shares of Hoegh LNG Partners from a “d” rating to a “c+” rating in a research report on Monday, August 7th. Finally, ValuEngine upgraded shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $21.63.

Shares of Hoegh LNG Partners (NASDAQ:HMLP) opened at 19.20 on Friday. The stock has a market cap of $632.06 million and a price-to-earnings ratio of 9.43. The firm has a 50-day moving average price of $18.58 and a 200-day moving average price of $19.12. Hoegh LNG Partners has a 52 week low of $17.05 and a 52 week high of $20.65.

Hoegh LNG Partners (NASDAQ:HMLP) last posted its earnings results on Thursday, August 24th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). The business had revenue of $35.02 million for the quarter, compared to analyst estimates of $31.94 million. Hoegh LNG Partners had a net margin of 34.87% and a return on equity of 13.48%. On average, equities analysts anticipate that Hoegh LNG Partners will post $1.46 earnings per share for the current year.

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Several institutional investors have recently modified their holdings of HMLP. Stifel Financial Corp acquired a new position in shares of Hoegh LNG Partners in the first quarter worth about $354,000. UBS Group AG raised its position in shares of Hoegh LNG Partners by 27.1% in the first quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock worth $182,000 after acquiring an additional 1,978 shares during the period. Renaissance Technologies LLC raised its position in shares of Hoegh LNG Partners by 70.0% in the first quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock worth $2,203,000 after acquiring an additional 46,140 shares during the period. Bank of America Corp DE raised its position in shares of Hoegh LNG Partners by 179.6% in the first quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock worth $2,135,000 after acquiring an additional 69,793 shares during the period. Finally, Green Square Capital LLC raised its position in shares of Hoegh LNG Partners by 204.6% in the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock worth $1,462,000 after acquiring an additional 49,983 shares during the period.

Hoegh LNG Partners Company Profile

Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.

Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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