Zacks Investment Research cut shares of Golar LNG Partners LP (NASDAQ:GMLP) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
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. “
Other research analysts have also issued reports about the company. Jefferies Group LLC reiterated a buy rating and issued a $26.00 target price on shares of Golar LNG Partners in a report on Tuesday, September 26th. Stifel Nicolaus restated a hold rating on shares of Golar LNG Partners in a research note on Friday, September 22nd. ValuEngine upgraded Golar LNG Partners from a buy rating to a strong-buy rating in a research report on Friday, September 1st. BidaskClub upgraded Golar LNG Partners from a hold rating to a buy rating in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated an equal weight rating and set a $22.00 target price (down previously from $24.00) on shares of Golar LNG Partners in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $23.25.
Golar LNG Partners (NASDAQ GMLP) traded up 0.7824% during trading on Wednesday, reaching $23.1094. The company had a trading volume of 83,802 shares. Golar LNG Partners has a 52 week low of $18.32 and a 52 week high of $25.82. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 8.4557 and a beta of 0.95. The company’s 50-day moving average is $22.08 and its 200 day moving average is $21.33.
Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings data on Wednesday, August 30th. The shipping company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.69% and a net margin of 43.94%. Equities analysts anticipate that Golar LNG Partners will post $2.11 EPS for the current year.
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Several institutional investors and hedge funds have recently bought and sold shares of GMLP. Bronfman E.L. Rothschild L.P. increased its position in shares of Golar LNG Partners by 12.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,655 shares of the shipping company’s stock worth $113,000 after purchasing an additional 620 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Golar LNG Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after buying an additional 572 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of Golar LNG Partners during the first quarter worth about $222,000. PNC Financial Services Group Inc. grew its holdings in shares of Golar LNG Partners by 13.9% during the first quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock worth $271,000 after buying an additional 1,474 shares during the last quarter. Finally, KCG Holdings Inc. purchased a new position in shares of Golar LNG Partners during the first quarter worth about $300,000. Institutional investors and hedge funds own 45.47% of the company’s stock.
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 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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