Teekay LNG Partners L.P. (TGP) Trading Down 3.8%
Teekay LNG Partners L.P. (NYSE:TGP) shares fell 3.8% during trading on Wednesday . The company traded as low as $11.14 and last traded at $11.17, with a volume of 193,354 shares trading hands. The stock had previously closed at $11.61.
Separately, Zacks Investment Research upgraded shares of Teekay LNG Partners L.P. from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Thursday, June 16th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Teekay LNG Partners L.P. presently has an average rating of “Hold” and a consensus target price of $16.75.
The firm has a market cap of $893.58 million and a PE ratio of 10.62. The stock has a 50-day moving average of $12.08 and a 200-day moving average of $12.18.
Teekay LNG Partners L.P. (NYSE:TGP) last released its quarterly earnings results on Thursday, May 19th. The company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.08. Equities research analysts forecast that Teekay LNG Partners L.P. will post $1.68 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Friday, July 29th will be given a $0.14 dividend. The ex-dividend date is Wednesday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 4.99%.
Other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in Teekay LNG Partners L.P. by 112.9% in the fourth quarter. Morgan Stanley now owns 1,490,911 shares of the company’s stock worth $19,606,000 after buying an additional 790,641 shares during the period. First Trust Advisors LP raised its position in Teekay LNG Partners L.P. by 9.0% in the fourth quarter. First Trust Advisors LP now owns 394,249 shares of the company’s stock worth $5,184,000 after buying an additional 32,422 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Teekay LNG Partners L.P. by 36.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 346,009 shares of the company’s stock worth $4,550,000 after buying an additional 92,763 shares during the period. BNP Paribas Arbitrage SA raised its position in Teekay LNG Partners L.P. by 257.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 240,855 shares of the company’s stock worth $3,167,000 after buying an additional 173,433 shares during the period. Finally, Thornburg Investment Management Inc. purchased a new position in Teekay LNG Partners L.P. during the fourth quarter worth approximately $3,124,000.
Teekay LNG Partners L.P. (Teekay LNG Partners) is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Teekay LNG Partners operates through two segments: its liquefied gas segment and its conventional tanker segment.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.