Golar LNG Partners LP (NASDAQ:GMLP) has been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $23.33.
GMLP has been the topic of several recent analyst reports. ValuEngine raised shares of Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. ABN Amro initiated coverage on shares of Golar LNG Partners in a research note on Monday, October 30th. They set a “buy” rating on the stock. BidaskClub raised shares of Golar LNG Partners from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Golar LNG Partners in a research note on Friday, September 22nd.
Shares of Golar LNG Partners (GMLP) opened at $21.15 on Monday. The company has a market cap of $1,494.50, a P/E ratio of 7.12, a PEG ratio of 1.14 and a beta of 0.92. Golar LNG Partners has a 1 year low of $18.77 and a 1 year high of $25.82. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.78 and a quick ratio of 1.77.
Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a net margin of 43.94% and a return on equity of 31.12%. sell-side analysts predict that Golar LNG Partners will post 1.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, October 30th were paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 10.92%. The ex-dividend date was Friday, October 27th. Golar LNG Partners’s payout ratio is 77.78%.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Huber Capital Management LLC lifted its stake in shares of Golar LNG Partners by 14.2% during the second quarter. Huber Capital Management LLC now owns 1,764,626 shares of the shipping company’s stock valued at $35,416,000 after buying an additional 219,511 shares during the period. FMR LLC raised its stake in Golar LNG Partners by 4.7% during the second quarter. FMR LLC now owns 1,251,660 shares of the shipping company’s stock worth $25,121,000 after purchasing an additional 55,760 shares during the period. Goldman Sachs Group Inc. raised its stake in Golar LNG Partners by 96.4% during the second quarter. Goldman Sachs Group Inc. now owns 916,507 shares of the shipping company’s stock worth $18,394,000 after purchasing an additional 449,868 shares during the period. JPMorgan Chase & Co. raised its stake in Golar LNG Partners by 37.5% during the third quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock worth $15,110,000 after purchasing an additional 181,868 shares during the period. Finally, First Trust Advisors LP purchased a new position in Golar LNG Partners during the second quarter worth approximately $9,812,000. 46.88% of the stock is currently owned by institutional investors and hedge funds.
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About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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