Global X Management Co. LLC increased its position in shares of GasLog Partners LP (NYSE:GLOP) by 51.2% during the second quarter, Holdings Channel reports. The institutional investor owned 549,001 shares of the shipping company’s stock after buying an additional 185,941 shares during the period. Global X Management Co. LLC’s holdings in GasLog Partners were worth $12,435,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GLOP. Janney Montgomery Scott LLC boosted its stake in shares of GasLog Partners by 8.1% in the first quarter. Janney Montgomery Scott LLC now owns 15,755 shares of the shipping company’s stock worth $386,000 after buying an additional 1,181 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of GasLog Partners by 36.0% in the first quarter. PNC Financial Services Group Inc. now owns 16,452 shares of the shipping company’s stock worth $403,000 after buying an additional 4,352 shares in the last quarter. Essex Financial Services Inc. bought a new stake in shares of GasLog Partners during the first quarter worth $204,000. Koch Industries Inc. bought a new stake in shares of GasLog Partners during the first quarter worth $206,000. Finally, HighTower Advisors LLC bought a new stake in shares of GasLog Partners during the first quarter worth $265,000. Institutional investors and hedge funds own 58.44% of the company’s stock.
GasLog Partners LP (GLOP) opened at 23.30 on Thursday. The company’s 50-day moving average price is $23.74 and its 200-day moving average price is $23.42. The firm has a market capitalization of $919.51 million, a price-to-earnings ratio of 11.68 and a beta of 1.66. GasLog Partners LP has a 12-month low of $18.85 and a 12-month high of $25.45.
GasLog Partners (NYSE:GLOP) last issued its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.11. GasLog Partners had a net margin of 35.43% and a return on equity of 12.06%. The firm had revenue of $65.27 million for the quarter, compared to analyst estimates of $61.86 million. During the same period last year, the company earned $0.52 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Equities analysts expect that GasLog Partners LP will post $2.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from GasLog Partners’s previous quarterly dividend of $0.43. GasLog Partners’s dividend payout ratio is currently 94.88%.
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A number of brokerages recently weighed in on GLOP. Jefferies Group LLC restated a “buy” rating and set a $28.00 price objective on shares of GasLog Partners in a research note on Tuesday, July 4th. Morgan Stanley upgraded shares of GasLog Partners from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $23.50 to $26.00 in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of GasLog Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Barclays PLC began coverage on shares of GasLog Partners in a research note on Friday, April 21st. They set an “equal weight” rating and a $26.00 price objective on the stock. Finally, TheStreet upgraded shares of GasLog Partners from a “c-” rating to a “b” rating in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. GasLog Partners presently has a consensus rating of “Buy” and a consensus target price of $25.40.
GasLog Partners Company Profile
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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