Hoegh LNG Partners (NYSE:HMLP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “
HMLP has been the topic of several other reports. BidaskClub downgraded Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 14th. ValuEngine raised Hoegh LNG Partners from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Citigroup raised their price target on Hoegh LNG Partners from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, August 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.63.
Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC grew its position in shares of Hoegh LNG Partners by 341.5% in the second quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock valued at $100,000 after purchasing an additional 4,037 shares during the last quarter. Bard Associates Inc. acquired a new stake in Hoegh LNG Partners during the second quarter worth about $321,000. Stifel Financial Corp grew its position in Hoegh LNG Partners by 3.3% during the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock worth $351,000 after buying an additional 591 shares in the last quarter. Forward Management LLC grew its position in Hoegh LNG Partners by 125.8% during the second quarter. Forward Management LLC now owns 20,100 shares of the shipping company’s stock worth $385,000 after buying an additional 11,200 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Hoegh LNG Partners during the second quarter worth about $428,000. 64.13% of the stock is currently owned by institutional investors.
Hoegh LNG Partners Company Profile
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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