Golar LNG Limited (NASDAQ:GLNG) to Issue Quarterly Dividend of $0.25

Golar LNG Limited (NASDAQ:GLNG) declared a quarterly dividend on Wednesday, May 28th, Wall Street Journal reports. Investors of record on Tuesday, June 3rd will be given a dividend of 0.25 per share by the shipping company on Tuesday, June 10th. This represents a $1.00 annualized dividend and a yield of 2.41%. The ex-dividend date is Tuesday, June 3rd.

Golar LNG has a dividend payout ratio of 99.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Golar LNG to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 61.7%.

Golar LNG Stock Performance

NASDAQ:GLNG traded up $2.40 on Wednesday, hitting $41.51. 2,031,997 shares of the stock were exchanged, compared to its average volume of 1,464,795. Golar LNG has a 52 week low of $25.33 and a 52 week high of $44.36. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 295.89 and a beta of 0.62. The company’s 50-day moving average price is $38.03 and its 200 day moving average price is $39.07.

Institutional Investors Weigh In On Golar LNG

A hedge fund recently raised its stake in Golar LNG stock. Amundi increased its holdings in shares of Golar LNG Limited (NASDAQ:GLNG) by 29.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,586 shares of the shipping company’s stock after buying an additional 4,468 shares during the quarter. Amundi’s holdings in Golar LNG were worth $744,000 as of its most recent SEC filing. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GLNG shares. Fearnley Fonds raised shares of Golar LNG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 19th. DNB Markets upgraded shares of Golar LNG from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Tuesday, April 22nd. Wall Street Zen raised Golar LNG to a “sell” rating in a research note on Thursday, March 20th. Finally, Dnb Nor Markets upgraded Golar LNG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $49.70.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.