Goldentree Asset Management LP raised its position in Teekay LNG Partners L.P. (NYSE:TGP) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,855 shares of the shipping company’s stock after acquiring an additional 4,700 shares during the quarter. Teekay LNG Partners makes up 0.1% of Goldentree Asset Management LP’s investment portfolio, making the stock its 26th largest position. Goldentree Asset Management LP’s holdings in Teekay LNG Partners were worth $521,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in TGP. ING Groep NV purchased a new position in shares of Teekay LNG Partners in the third quarter valued at about $10,217,000. Toronto Dominion Bank increased its position in shares of Teekay LNG Partners by 103.7% in the third quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock valued at $256,000 after acquiring an additional 403,411 shares during the period. Thornburg Investment Management Inc. increased its position in shares of Teekay LNG Partners by 10.6% in the third quarter. Thornburg Investment Management Inc. now owns 1,998,147 shares of the shipping company’s stock valued at $35,567,000 after acquiring an additional 191,807 shares during the period. Beach Investment Counsel Inc. PA increased its position in shares of Teekay LNG Partners by 534.4% in the fourth quarter. Beach Investment Counsel Inc. PA now owns 216,380 shares of the shipping company’s stock valued at $4,360,000 after acquiring an additional 182,272 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new position in shares of Teekay LNG Partners in the third quarter valued at about $2,611,000. Hedge funds and other institutional investors own 34.47% of the company’s stock.
TGP has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Teekay LNG Partners from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 14th. Citigroup lifted their target price on shares of Teekay LNG Partners from $15.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, February 13th. Jefferies Group assumed coverage on shares of Teekay LNG Partners in a research note on Monday, December 18th. They set a “hold” rating and a $18.00 target price on the stock. Stifel Nicolaus set a $20.00 target price on shares of Teekay LNG Partners and gave the company a “hold” rating in a research note on Friday, February 23rd. Finally, Morgan Stanley lifted their target price on shares of Teekay LNG Partners from $15.00 to $19.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Teekay LNG Partners has an average rating of “Hold” and a consensus price target of $19.00.
Teekay LNG Partners (NYSE:TGP) last announced its earnings results on Thursday, February 22nd. The shipping company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The firm had revenue of $122.00 million for the quarter, compared to analyst estimates of $111.54 million. Teekay LNG Partners had a net margin of 8.87% and a return on equity of 5.97%. sell-side analysts forecast that Teekay LNG Partners L.P. will post 1.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, February 2nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, February 1st. Teekay LNG Partners’s payout ratio is 233.34%.
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Teekay LNG Partners Profile
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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