Zacks: Brokerages Anticipate Teekay Lng Partners, L.P. (TGP) Will Announce Quarterly Sales of $145.35 Million

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Brokerages expect Teekay Lng Partners, L.P. (NYSE:TGP) to report $145.35 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Teekay Lng Partners’ earnings. The lowest sales estimate is $141.29 million and the highest is $148.64 million. Teekay Lng Partners reported sales of $109.51 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32.7%. The business is expected to announce its next earnings report on Thursday, May 16th.

On average, analysts expect that Teekay Lng Partners will report full year sales of $608.84 million for the current fiscal year, with estimates ranging from $582.02 million to $623.70 million. For the next year, analysts expect that the firm will report sales of $619.79 million, with estimates ranging from $591.95 million to $673.64 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Teekay Lng Partners.

Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Teekay Lng Partners had a net margin of 11.19% and a return on equity of 5.01%. The business had revenue of $143.28 million for the quarter, compared to analysts’ expectations of $138.17 million.

A number of brokerages have recently commented on TGP. ValuEngine raised Teekay Lng Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. TheStreet cut Teekay Lng Partners from a “c” rating to a “d+” rating in a research report on Friday, February 22nd. Zacks Investment Research raised Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a research report on Saturday, December 1st. Morgan Stanley raised Teekay Lng Partners from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $17.50 to $16.00 in a research report on Tuesday, January 22nd. Finally, Stifel Nicolaus raised Teekay Lng Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, November 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.00.

Shares of TGP traded up $0.21 during mid-day trading on Friday, reaching $14.94. The company had a trading volume of 278,237 shares, compared to its average volume of 349,980. The company has a quick ratio of 0.72, a current ratio of 0.91 and a debt-to-equity ratio of 1.91. Teekay Lng Partners has a 52 week low of $10.74 and a 52 week high of $19.30. The stock has a market cap of $1.19 billion, a P/E ratio of 19.66 and a beta of 1.57.

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake in Teekay Lng Partners by 21.2% during the 3rd quarter. Wells Fargo & Company MN now owns 193,278 shares of the shipping company’s stock valued at $3,228,000 after buying an additional 33,799 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of Teekay Lng Partners in the 3rd quarter worth $218,000. ING Groep NV increased its stake in shares of Teekay Lng Partners by 394.7% in the 3rd quarter. ING Groep NV now owns 84,600 shares of the shipping company’s stock worth $1,413,000 after purchasing an additional 67,500 shares in the last quarter. Rafferty Asset Management LLC purchased a new stake in shares of Teekay Lng Partners in the 4th quarter worth $1,515,000. Finally, Renaissance Technologies LLC increased its stake in shares of Teekay Lng Partners by 69.2% in the 3rd quarter. Renaissance Technologies LLC now owns 352,500 shares of the shipping company’s stock worth $5,887,000 after purchasing an additional 144,200 shares in the last quarter. 31.73% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Lng Partners

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

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