Teekay LNG Partners L.P. (TGP) Sees Strong Trading Volume
Teekay LNG Partners L.P. (NYSE:TGP) saw unusually-high trading volume on Monday . Approximately 348,588 shares were traded during trading, an increase of 26% from the previous session’s volume of 275,912 shares.The stock last traded at $11.48 and had previously closed at $11.24.
Separately, Zacks Investment Research raised Teekay LNG Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Thursday, April 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.75.
The company has a market cap of $913.48 million and a PE ratio of 10.86. The stock has a 50-day moving average price of $11.83 and a 200-day moving average price of $12.12.
Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings results on Thursday, May 19th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by $0.08. On average, equities research analysts expect that Teekay LNG Partners L.P. will post $1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 12th. Investors of record on Friday, July 29th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 4.88%.
A number of hedge funds have made changes to their positions in TGP. First Trust Advisors LP boosted its stake in shares of 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. PNC Financial Services Group Inc. boosted its stake in shares of Teekay LNG Partners L.P. by 23.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 153,200 shares of the company’s stock worth $2,014,000 after buying an additional 29,550 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Teekay LNG Partners L.P. during the fourth quarter worth $2,937,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of 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. Finally, Thornburg Investment Management Inc. acquired a new stake in shares of Teekay LNG Partners L.P. during the fourth quarter worth $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.
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