GasLog Partners LP (NYSE:GLOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “
A number of other analysts have also recently commented on GLOP. BidaskClub upgraded GasLog Partners from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. ValuEngine cut GasLog Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $28.00 target price on shares of GasLog Partners in a research report on Tuesday, July 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $26.00.
Shares of GasLog Partners (GLOP) traded up 1.07% on Thursday, reaching $23.55. The company had a trading volume of 65,859 shares. The company has a 50 day moving average of $23.07 and a 200-day moving average of $23.33. GasLog Partners has a 52 week low of $19.10 and a 52 week high of $25.45. The company has a market capitalization of $929.38 million, a P/E ratio of 11.80 and a beta of 1.67.
GasLog Partners (NYSE:GLOP) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.11). The business had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $61.86 million. GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. Analysts predict that GasLog Partners will post $2.21 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of GLOP. Wells Fargo & Company MN increased its position in GasLog Partners by 35.6% in the 1st quarter. Wells Fargo & Company MN now owns 131,430 shares of the shipping company’s stock valued at $3,220,000 after acquiring an additional 34,540 shares during the period. JPMorgan Chase & Co. increased its position in GasLog Partners by 43,473.4% in the 1st quarter. JPMorgan Chase & Co. now owns 458,828 shares of the shipping company’s stock valued at $11,242,000 after acquiring an additional 457,775 shares during the period. Stifel Financial Corp acquired a new position in GasLog Partners in the 1st quarter valued at about $306,000. FMR LLC increased its position in GasLog Partners by 82.8% in the 1st quarter. FMR LLC now owns 2,047,700 shares of the shipping company’s stock valued at $50,169,000 after acquiring an additional 927,600 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in GasLog Partners by 36.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,452 shares of the shipping company’s stock valued at $403,000 after acquiring an additional 4,352 shares during the period. Hedge funds and other institutional investors own 39.84% of the company’s stock.
About GasLog Partners
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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