Golar LNG Partners (GMLP) Announces Quarterly Earnings Results

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Golar LNG Partners (NASDAQ:GMLP) released its quarterly earnings results on Tuesday. The shipping company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02), Morningstar.com reports. Golar LNG Partners had a return on equity of 11.02% and a net margin of 21.11%. The firm had revenue of $68.05 million during the quarter, compared to analysts’ expectations of $70.94 million.

Shares of NASDAQ:GMLP traded up $0.25 on Wednesday, hitting $11.87. 6,888 shares of the company were exchanged, compared to its average volume of 286,461. Golar LNG Partners has a 1-year low of $10.23 and a 1-year high of $20.97. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 2.10. The company has a market capitalization of $821.93 million, a P/E ratio of 11.30, a PEG ratio of 1.69 and a beta of 1.14.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.4042 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.62 annualized dividend and a dividend yield of 13.62%. Golar LNG Partners’s payout ratio is currently 154.29%.

Several equities analysts have issued reports on the stock. Zacks Investment Research lowered shares of Golar LNG Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 24th. BidaskClub lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. ValuEngine raised shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. Bank of America lowered shares of Golar LNG Partners from a “neutral” rating to an “underperform” rating and set a $12.00 price target on the stock. in a report on Friday, March 1st. Finally, B. Riley set a $17.00 price target on shares of Golar LNG Partners and gave the stock a “hold” rating in a report on Thursday, February 28th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $14.71.

Large investors have recently bought and sold shares of the company. Lavaca Capital LLC acquired a new position in Golar LNG Partners during the first quarter valued at $39,000. SeaBridge Investment Advisors LLC lifted its position in Golar LNG Partners by 100.0% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 4,000 shares of the shipping company’s stock valued at $43,000 after purchasing an additional 2,000 shares during the period. PNC Financial Services Group Inc. lifted its position in Golar LNG Partners by 12.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after purchasing an additional 1,240 shares during the period. Deutsche Bank AG lifted its position in Golar LNG Partners by 1,099.7% during the fourth quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock valued at $128,000 after purchasing an additional 10,997 shares during the period. Finally, Regent Investment Management LLC acquired a new position in Golar LNG Partners during the first quarter valued at $142,000. Institutional investors and hedge funds own 33.18% of the company’s stock.

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About Golar LNG Partners

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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Earnings History for Golar LNG Partners (NASDAQ:GMLP)

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