BidaskClub downgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a sell rating to a strong sell rating in a report published on Wednesday morning.
A number of other analysts also recently weighed in on GMLP. Zacks Investment Research upgraded Golar LNG Partners from a strong sell rating to a hold rating in a report on Tuesday, November 7th. Jefferies Group began coverage on shares of Golar LNG Partners in a research report on Monday, December 18th. They set a buy rating and a $26.00 price objective on the stock. Stifel Nicolaus raised shares of Golar LNG Partners from a hold rating to a buy rating and increased their price objective for the stock from $23.00 to $25.00 in a research report on Monday, December 18th. ValuEngine cut shares of Golar LNG Partners from a buy rating to a hold rating in a research report on Sunday, December 31st. Finally, Seaport Global Securities reissued a hold rating and set a $21.00 price objective on shares of Golar LNG Partners in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $23.60.
Shares of Golar LNG Partners (GMLP) traded up $0.02 during trading on Wednesday, reaching $19.07. The company’s stock had a trading volume of 296,207 shares, compared to its average volume of 315,420. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.71 and a current ratio of 1.73. Golar LNG Partners has a 52-week low of $18.49 and a 52-week high of $23.49. The firm has a market cap of $1,320.00, a P/E ratio of 10.14, a P/E/G ratio of 1.82 and a beta of 0.92.
Golar LNG Partners declared that its board has initiated a share buyback program on Monday, March 5th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the shipping company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.5775 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $2.31 dividend on an annualized basis and a dividend yield of 12.11%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 122.87%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GMLP. JPMorgan Chase & Co. lifted its position in shares of Golar LNG Partners by 37.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock worth $15,110,000 after buying an additional 181,868 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Golar LNG Partners during the 3rd quarter worth approximately $344,000. Alps Advisors Inc. purchased a new stake in shares of Golar LNG Partners during the 3rd quarter worth approximately $500,000. First Trust Advisors LP increased its stake in shares of Golar LNG Partners by 16.5% during the 4th quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock worth $10,585,000 after purchasing an additional 65,759 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Golar LNG Partners by 15.6% during the 2nd quarter. Northern Trust Corp now owns 62,288 shares of the shipping company’s stock worth $1,249,000 after purchasing an additional 8,405 shares during the last quarter. 44.34% of the stock is currently owned by institutional investors and hedge funds.
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Golar LNG Partners Company Profile
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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