Golar LNG Partners (NASDAQ:GMLP) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. They currently have $13.00 price target on the shipping company’s stock.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

Other analysts have also issued reports about the company. BidaskClub raised Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. TheStreet cut Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. Finally, ValuEngine downgraded shares of Zynerba Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Golar LNG Partners has an average rating of Hold and a consensus target price of $13.83.

Shares of Golar LNG Partners stock opened at $11.74 on Wednesday. Golar LNG Partners has a fifty-two week low of $10.23 and a fifty-two week high of $16.99. The stock has a market cap of $832.25 million, a price-to-earnings ratio of 11.18, a PEG ratio of 1.46 and a beta of 1.05. The business’s fifty day simple moving average is $11.33. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 1.85.

Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings data on Tuesday, May 21st. The shipping company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $70.94 million. Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%. On average, analysts forecast that Golar LNG Partners will post 0.98 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Muhlenkamp & Co. Inc. purchased a new stake in shares of Golar LNG Partners during the 1st quarter worth about $3,077,000. OppenheimerFunds Inc. increased its holdings in Golar LNG Partners by 0.5% in the first quarter. OppenheimerFunds Inc. now owns 6,292,174 shares of the shipping company’s stock worth $81,232,000 after buying an additional 33,479 shares during the last quarter. Arrow Investment Advisors LLC raised its position in Golar LNG Partners by 27.3% during the first quarter. Arrow Investment Advisors LLC now owns 45,687 shares of the shipping company’s stock valued at $590,000 after acquiring an additional 9,804 shares in the last quarter. SeaBridge Investment Advisors LLC raised its position in Golar LNG Partners by 50.0% during the first quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock valued at $77,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Golar LNG Partners by 26.5% in the first quarter. Duff & Phelps Investment Management Co. now owns 215,000 shares of the shipping company’s stock valued at $2,776,000 after acquiring an additional 45,000 shares during the last quarter. Institutional investors and hedge funds own 32.70% of the company’s stock.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

See Also: Compound Annual Growth Rate (CAGR)

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