GasLog LP. (GLOG) Position Boosted by American International Group Inc.
American International Group Inc. raised its position in shares of GasLog LP. (NYSE:GLOG) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,198 shares of the shipping company’s stock after buying an additional 1,670 shares during the period. American International Group Inc.’s holdings in GasLog LP. were worth $387,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Eagle Global Advisors LLC increased its stake in GasLog LP. by 1.5% in the first quarter. Eagle Global Advisors LLC now owns 3,416,935 shares of the shipping company’s stock worth $52,450,000 after buying an additional 50,550 shares during the last quarter. Peregrine Capital Management LLC boosted its stake in GasLog LP. by 18.0% in the first quarter. Peregrine Capital Management LLC now owns 1,109,685 shares of the shipping company’s stock valued at $16,701,000 after buying an additional 169,300 shares during the period. Frontier Capital Management Co. LLC purchased a new stake in GasLog LP. during the first quarter valued at $13,445,000. HITE Hedge Asset Management LLC purchased a new stake in GasLog LP. during the first quarter valued at $12,032,000. Finally, State Street Corp boosted its stake in GasLog LP. by 9.4% in the fourth quarter. State Street Corp now owns 708,654 shares of the shipping company’s stock valued at $11,411,000 after buying an additional 61,071 shares during the period. Institutional investors own 47.21% of the company’s stock.
Shares of GasLog LP. (GLOG) opened at 17.35 on Tuesday. GasLog LP. has a 1-year low of $12.32 and a 1-year high of $17.85. The stock has a 50 day moving average of $13.97 and a 200 day moving average of $15.12. The stock’s market cap is $1.40 billion.
GasLog LP. (NYSE:GLOG) last posted its quarterly earnings data on Friday, May 5th. The shipping company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $128.30 million during the quarter, compared to analyst estimates of $129.35 million. GasLog LP. had a net margin of 0.65% and a return on equity of 0.63%. The company’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.09) earnings per share. Equities research analysts forecast that GasLog LP. will post $0.25 EPS for the current year.
Several analysts have recently weighed in on GLOG shares. BidaskClub raised shares of GasLog LP. from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. ValuEngine raised shares of GasLog LP. from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Credit Suisse Group started coverage on shares of GasLog LP. in a research note on Tuesday, April 25th. They issued an “outperform” rating and a $21.00 price target for the company. Morgan Stanley raised shares of GasLog LP. from an “equal weight” rating to an “overweight” rating and set a $17.00 price target for the company in a research note on Tuesday, June 13th. Finally, Zacks Investment Research cut shares of GasLog LP. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.13.
About GasLog LP.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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