Stifel Nicolaus reaffirmed their hold rating on shares of Golar LNG Partners LP (NASDAQ:GMLP) in a report released on Friday morning. Stifel Nicolaus currently has a $23.00 target price on the shipping company’s stock.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Golar LNG Partners from a hold rating to a sell rating in a report on Tuesday, May 2nd. Jefferies Group LLC restated a buy rating and issued a $26.00 target price on shares of Golar LNG Partners in a research note on Monday, June 12th. Morgan Stanley restated an equal weight rating and issued a $22.00 target price (down from $24.00) on shares of Golar LNG Partners in a research note on Tuesday, June 13th. BidaskClub upgraded Golar LNG Partners from a strong sell rating to a sell rating in a research note on Sunday, June 18th. Finally, ValuEngine lowered Golar LNG Partners from a strong-buy rating to a buy rating in a research note on Saturday, June 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.25.
Shares of Golar LNG Partners (GMLP) traded up 1.14% on Friday, hitting $21.30. The company had a trading volume of 114,547 shares. Golar LNG Partners has a 1-year low of $17.72 and a 1-year high of $25.82. The company has a 50 day moving average price of $20.23 and a 200 day moving average price of $22.15. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 7.67 and a beta of 0.91.
Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings data on Wednesday, May 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.11. The company had revenue of $101.39 million for the quarter, compared to analysts’ expectations of $100.79 million. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. On average, equities analysts forecast that Golar LNG Partners will post $2.49 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in GMLP. Clearbridge Investments LLC raised its position in shares of Golar LNG Partners by 29.0% in the first quarter. Clearbridge Investments LLC now owns 1,533,549 shares of the shipping company’s stock valued at $34,259,000 after buying an additional 345,000 shares during the period. HighTower Advisors LLC bought a new stake in shares of Golar LNG Partners during the first quarter valued at $222,000. Credit Suisse AG boosted its stake in shares of Golar LNG Partners by 23.8% in the first quarter. Credit Suisse AG now owns 24,923 shares of the shipping company’s stock valued at $557,000 after buying an additional 4,793 shares in the last quarter. KCG Holdings Inc. bought a new stake in shares of Golar LNG Partners during the first quarter valued at $300,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Golar LNG Partners by 884.2% in the first quarter. Renaissance Technologies LLC now owns 281,517 shares of the shipping company’s stock valued at $6,289,000 after buying an additional 252,912 shares in the last quarter. Hedge funds and other institutional investors own 77.30% of the company’s stock.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over 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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