Hoegh LNG Partners (HMLP) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Hoegh LNG Partners (NASDAQ:HMLP) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $21.00 target price on the stock.
According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “
A number of other research firms have also recently commented on HMLP. Barclays PLC reiterated an equal weight rating and set a $20.00 target price (up from $19.00) on shares of Hoegh LNG Partners in a research note on Tuesday, August 30th. Morgan Stanley reiterated a hold rating on shares of Hoegh LNG Partners in a research note on Friday, August 26th. Finally, Citigroup Inc. reiterated a buy rating and set a $21.00 target price (up from $18.50) on shares of Hoegh LNG Partners in a research note on Friday, August 26th.
Shares of Hoegh LNG Partners (NASDAQ:HMLP) opened at 18.70 on Tuesday. The firm has a market capitalization of $492.22 million and a P/E ratio of 19.46. The firm’s 50-day moving average is $18.20 and its 200-day moving average is $18.11. Hoegh LNG Partners has a 52 week low of $11.50 and a 52 week high of $19.56.
Hoegh LNG Partners (NASDAQ:HMLP) last released its earnings results on Thursday, August 25th. The company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.26. The firm earned $22.80 million during the quarter, compared to the consensus estimate of $23.47 million. Equities analysts anticipate that Hoegh LNG Partners will post $1.17 EPS for the current year.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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