Golar LNG Partners LP (NASDAQ:GMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
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. “
Several other brokerages have also weighed in on GMLP. Jefferies Group restated a “buy” rating and set a $25.00 target price on shares of Golar LNG Partners in a research report on Monday. Morgan Stanley set a $15.00 target price on shares of Golar LNG Partners and gave the stock a “hold” rating in a research report on Tuesday, September 6th.
Golar LNG Partners (NASDAQ:GMLP) traded down 0.14% during mid-day trading on Tuesday, hitting $21.84. 319,094 shares of the stock traded hands. The stock’s 50 day moving average is $19.71 and its 200-day moving average is $18.16. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 10.16 and a beta of 1.01. Golar LNG Partners has a 12 month low of $7.55 and a 12 month high of $22.42.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Wednesday, August 31st. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.16. On average, equities research analysts anticipate that Golar LNG Partners will post $2.17 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. Creative Planning raised its stake in Golar LNG Partners by 43.2% in the third quarter. Creative Planning now owns 5,300 shares of the company’s stock valued at $104,000 after buying an additional 1,600 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Golar LNG Partners by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $139,000 after buying an additional 3,000 shares in the last quarter. Quantbot Technologies LP raised its stake in Golar LNG Partners by 98.2% in the second quarter. Quantbot Technologies LP now owns 8,062 shares of the company’s stock valued at $147,000 after buying an additional 3,994 shares in the last quarter. BlackRock Inc. acquired a new stake in Golar LNG Partners during the second quarter valued at approximately $173,000. Finally, Geode Capital Management LLC raised its stake in Golar LNG Partners by 7.8% in the first quarter. Geode Capital Management LLC now owns 18,395 shares of the company’s stock valued at $270,000 after buying an additional 1,324 shares in the last quarter.
Golar LNG Partners Company Profile
Golar LNG Partners LP (Golar LNG Partners) owns and operates floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters. The Company operates a fleet of around six FSRU vessels and 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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