Sunbelt Securities Inc. acquired a new position in shares of Golar LNG Partners LP (NASDAQ:GMLP) during the third quarter, HoldingsChannel reports. The fund acquired 14,100 shares of the shipping company’s stock, valued at approximately $135,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in Golar LNG Partners by 40.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,295 shares of the shipping company’s stock valued at $93,000 after buying an additional 2,395 shares in the last quarter. Moors & Cabot Inc. acquired a new stake in shares of Golar LNG Partners during the 3rd quarter valued at approximately $111,000. Fiduciary Financial Services of The Southwest Inc. TX acquired a new stake in shares of Golar LNG Partners during the 3rd quarter valued at approximately $128,000. Janney Montgomery Scott LLC purchased a new stake in shares of Golar LNG Partners during the 2nd quarter worth approximately $174,000. Finally, Stockman Wealth Management Inc. boosted its stake in shares of Golar LNG Partners by 13.9% during the 2nd quarter. Stockman Wealth Management Inc. now owns 16,000 shares of the shipping company’s stock worth $181,000 after acquiring an additional 1,950 shares in the last quarter. Institutional investors own 32.61% of the company’s stock.
Shares of GMLP opened at $9.10 on Tuesday. The company has a current ratio of 0.42, a quick ratio of 0.41 and a debt-to-equity ratio of 2.16. The stock has a market cap of $674.18 million, a P/E ratio of 47.55, a PEG ratio of 2.50 and a beta of 1.01. The company has a 50-day moving average of $9.85 and a two-hundred day moving average of $10.54. Golar LNG Partners LP has a 12-month low of $8.94 and a 12-month high of $14.28.
Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings results on Tuesday, November 26th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.18). The business had revenue of $74.13 million during the quarter, compared to analysts’ expectations of $76.47 million. Golar LNG Partners had a negative net margin of 10.41% and a positive return on equity of 2.83%. As a group, analysts forecast that Golar LNG Partners LP will post 0.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 8th were paid a dividend of $0.404 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 17.76%. Golar LNG Partners’s dividend payout ratio (DPR) is 154.29%.
Several equities analysts recently weighed in on the company. Scotiabank set a $10.00 price objective on Golar LNG Partners and gave the company a “hold” rating in a research note on Monday, September 30th. Bank of America reduced their price objective on Golar LNG Partners from $11.50 to $10.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. B. Riley set a $14.00 target price on Golar LNG Partners and gave the stock a “hold” rating in a research report on Friday, August 30th. ValuEngine lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, Zacks Investment Research cut Golar LNG Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Golar LNG Partners presently has a consensus rating of “Hold” and a consensus target price of $11.75.
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.
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