Hoegh LNG Partners (NYSE:HMLP) Share Price Passes Below 50 Day Moving Average of $18.27

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Hoegh LNG Partners LP (NYSE:HMLP)’s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $18.27 and traded as low as $17.37. Hoegh LNG Partners shares last traded at $17.50, with a volume of 1,575 shares.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. TheStreet raised shares of Hoegh LNG Partners from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Finally, Nordea Equity Research cut shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.80.

The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $576.70 million, a PE ratio of 9.61, a PEG ratio of 9.49 and a beta of 1.03.

Hoegh LNG Partners (NYSE:HMLP) last issued its quarterly earnings results on Wednesday, May 29th. The shipping company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.05. Hoegh LNG Partners had a net margin of 47.40% and a return on equity of 19.69%. The company had revenue of $36.14 million for the quarter, compared to the consensus estimate of $37.14 million. During the same quarter in the prior year, the company earned $0.56 EPS. Hoegh LNG Partners’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts predict that Hoegh LNG Partners LP will post 1.54 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in Hoegh LNG Partners by 4,784.8% during the fourth quarter. Barclays PLC now owns 3,859 shares of the shipping company’s stock worth $59,000 after purchasing an additional 3,780 shares during the last quarter. Trustcore Financial Services LLC grew its position in Hoegh LNG Partners by 52.5% during the 1st quarter. Trustcore Financial Services LLC now owns 6,100 shares of the shipping company’s stock worth $119,000 after acquiring an additional 2,100 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new position in Hoegh LNG Partners during the 1st quarter worth $163,000. Virtu Financial LLC acquired a new position in Hoegh LNG Partners during the 1st quarter worth $219,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Hoegh LNG Partners during the 4th quarter worth $226,000. Institutional investors and hedge funds own 23.74% of the company’s stock.

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About Hoegh LNG Partners (NYSE:HMLP)

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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