Teekay LNG Partners L.P. (TGP) Trading 8.7% Higher
Shares of Teekay LNG Partners L.P. (NYSE:TGP) traded up 8.7% during mid-day trading on Thursday . The stock traded as high as $10.66 and last traded at $10.66, with a volume of 317,248 shares changing hands. The stock had previously closed at $9.81.
Separately, Zacks Investment Research downgraded Teekay LNG Partners L.P. from a “buy” rating to a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.75.
The stock’s 50 day moving average price is $10.98 and its 200-day moving average price is $12.02. The company has a market cap of $853.80 million and a price-to-earnings ratio of 10.15.
Teekay LNG Partners L.P. (NYSE:TGP) last issued 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. On average, analysts expect that Teekay LNG Partners L.P. will post $2.12 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 dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, July 27th. This represents a $0.56 dividend on an annualized basis and a yield of 5.22%.
An institutional investor recently raised its position in Teekay LNG Partners L.P. stock. BNP Paribas Arbitrage SA boosted its position in shares of Teekay LNG Partners L.P. (NYSE:TGP) by 257.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 240,855 shares of the company’s stock after buying an additional 173,433 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.30% of Teekay LNG Partners L.P. worth $3,167,000 as of its most recent SEC filing.
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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