Golar LNG Partners (GMLP) Raised to “Hold” at BidaskClub

BidaskClub upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

GMLP has been the topic of several other research reports. B. Riley began coverage on Golar LNG Partners in a report on Wednesday, September 5th. They set a neutral rating and a $17.00 target price on the stock. BTIG Research began coverage on Golar LNG Partners in a report on Wednesday, July 18th. They set a neutral rating on the stock. ValuEngine cut Golar LNG Partners from a hold rating to a sell rating in a report on Friday, June 1st. Zacks Investment Research cut Golar LNG Partners from a hold rating to a sell rating in a report on Friday, June 1st. Finally, DNB Markets cut Golar LNG Partners from a hold rating to a sell rating in a report on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $19.43.

Shares of NASDAQ:GMLP opened at $13.91 on Wednesday. Golar LNG Partners has a 12 month low of $12.71 and a 12 month high of $23.46. The company has a market cap of $1.02 billion, a P/E ratio of 7.40, a PEG ratio of 1.77 and a beta of 0.95. The company has a current ratio of 0.55, a quick ratio of 0.54 and a debt-to-equity ratio of 1.65.

Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Thursday, August 23rd. The shipping company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. The firm had revenue of $84.20 million for the quarter, compared to analysts’ expectations of $81.17 million. analysts anticipate that Golar LNG Partners will post 1.01 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors Inc. increased its holdings in shares of Golar LNG Partners by 13.2% in the second quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock valued at $530,000 after buying an additional 4,000 shares in the last quarter. Wedbush Securities Inc. increased its holdings in shares of Golar LNG Partners by 28.4% in the second quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after buying an additional 4,181 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Golar LNG Partners by 58.1% in the first quarter. BNP Paribas Arbitrage SA now owns 11,810 shares of the shipping company’s stock valued at $202,000 after buying an additional 4,342 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Golar LNG Partners by 11.6% in the first quarter. Northern Trust Corp now owns 51,751 shares of the shipping company’s stock valued at $885,000 after buying an additional 5,370 shares in the last quarter. Finally, Koch Industries Inc. raised its stake in Golar LNG Partners by 88.3% during the 1st quarter. Koch Industries Inc. now owns 19,774 shares of the shipping company’s stock valued at $338,000 after purchasing an additional 9,275 shares during the period. 39.95% of the stock is currently owned by institutional investors.

About Golar LNG Partners

Golar LNG Partners LP engages in the logistics solutions. Its activities include owning, trading, and operation of floating storage and regasification units (FSRU) and liquefied natural gas ( LNG) marine transportation. The company was founded on September 24, 2007 and is headquartered in Hamilton, Bermuda.

Read More: Intrinsic Value and Stock Selection

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply