Hoegh LNG Partners (NYSE:HMLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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. “
A number of other research analysts also recently commented on HMLP. Morgan Stanley dropped their price target on Hoegh LNG Partners from $20.50 to $20.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. ValuEngine downgraded Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $21.33.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huber Capital Management LLC raised its stake in Hoegh LNG Partners by 35.9% during the fourth quarter. Huber Capital Management LLC now owns 1,022,957 shares of the shipping company’s stock worth $19,078,000 after acquiring an additional 270,488 shares in the last quarter. Renaissance Technologies LLC raised its stake in Hoegh LNG Partners by 64.1% during the fourth quarter. Renaissance Technologies LLC now owns 228,300 shares of the shipping company’s stock worth $4,258,000 after acquiring an additional 89,200 shares in the last quarter. Deutsche Bank AG raised its stake in Hoegh LNG Partners by 29.1% during the fourth quarter. Deutsche Bank AG now owns 127,637 shares of the shipping company’s stock worth $2,380,000 after acquiring an additional 28,790 shares in the last quarter. Nwam LLC raised its stake in Hoegh LNG Partners by 24.8% during the fourth quarter. Nwam LLC now owns 63,185 shares of the shipping company’s stock worth $1,178,000 after acquiring an additional 12,546 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC acquired a new position in Hoegh LNG Partners during the fourth quarter worth about $1,016,000. 65.15% of the stock is owned by hedge funds and other institutional investors.
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About Hoegh LNG Partners
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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