California Public Employees Retirement System trimmed its position in shares of Golar LNG Partners LP (NASDAQ:GMLP) by 3.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,118 shares of the shipping company’s stock after selling 5,010 shares during the period. California Public Employees Retirement System’s holdings in Golar LNG Partners were worth $1,822,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GMLP. Lavaca Capital LLC purchased a new position in shares of Golar LNG Partners during the 1st quarter valued at about $39,000. SeaBridge Investment Advisors LLC raised its holdings in shares of Golar LNG Partners by 50.0% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock valued at $77,000 after buying an additional 2,000 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Golar LNG Partners by 12.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,440 shares of the shipping company’s stock valued at $123,000 after buying an additional 1,240 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Golar LNG Partners by 1,099.7% during the 4th quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock valued at $128,000 after buying an additional 10,997 shares in the last quarter. Finally, Regent Investment Management LLC purchased a new position in shares of Golar LNG Partners during the 1st quarter valued at about $142,000. 32.70% of the stock is currently owned by institutional investors.
Shares of Golar LNG Partners stock opened at $11.26 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.08 and a current ratio of 1.10. The company has a market capitalization of $815.96 million, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.47 and a beta of 1.12. Golar LNG Partners LP has a one year low of $10.23 and a one year high of $16.99.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 14th. Shareholders of record on Tuesday, May 7th were paid a $0.4042 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.62 dividend on an annualized basis and a yield of 14.36%. Golar LNG Partners’s dividend payout ratio (DPR) is currently 154.29%.
A number of equities analysts recently weighed in on GMLP shares. BidaskClub cut Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Friday, April 5th. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Friday, May 24th. ValuEngine raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, March 12th. B. Riley set a $17.00 price objective on Golar LNG Partners and gave the company a “hold” rating in a report on Thursday, February 28th. Finally, Bank of America cut Golar LNG Partners from a “neutral” rating to an “underperform” rating and set a $12.00 price objective on the stock. in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Golar LNG Partners currently has a consensus rating of “Hold” and a consensus target price of $13.67.
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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 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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