Teekay LNG Partners L.P. (TGP) Shares Up 2.1%
Teekay LNG Partners L.P. (NYSE:TGP)’s share price shot up 2.1% during mid-day trading on Monday . The stock traded as high as $13.47 and last traded at $13.41, with a volume of 133,145 shares trading hands. The stock had previously closed at $13.13.
Separately, Zacks Investment Research cut shares of Teekay LNG Partners L.P. from a “buy” rating to a “hold” rating in a research note on Saturday, June 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.75.
The company’s 50 day moving average is $11.51 and its 200-day moving average is $12.20. The firm has a market capitalization of $1.06 billion and a PE ratio of 13.887.
Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.39 by $0.28. On average, equities research analysts expect that Teekay LNG Partners L.P. will post $2.04 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were paid a dividend of $0.14 per share. The ex-dividend date was Wednesday, July 27th. This represents a $0.56 annualized dividend and a dividend yield of 4.19%.
A hedge fund recently raised its stake in Teekay LNG Partners L.P. stock. Morgan Stanley increased its stake in shares of Teekay LNG Partners L.P. (NYSE:TGP) by 112.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,490,911 shares of the company’s stock after buying an additional 790,641 shares during the period. Morgan Stanley owned about 1.88% of Teekay LNG Partners L.P. worth $19,606,000 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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