Golar LNG Partners LP (GMLP) Rating Reiterated by Stifel Nicolaus
Golar LNG Partners LP (NASDAQ:GMLP)‘s stock had its “hold” rating reissued by investment analysts at Stifel Nicolaus in a research report issued on Friday. They currently have a $23.00 price objective on the shipping company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 7.98% from the company’s current price.
Several other analysts have also recently commented on GMLP. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. Seaport Global Securities reissued a “neutral” rating and set a $22.00 price objective on shares of Golar LNG Partners in a research report on Tuesday, May 30th. ValuEngine cut Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 3rd. BidaskClub cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 10th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $26.00 price objective on shares of Golar LNG Partners in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.25.
Golar LNG Partners (NASDAQ GMLP) opened at 21.30 on Friday. The stock has a market capitalization of $1.51 billion, a P/E ratio of 7.67 and a beta of 0.91. Golar LNG Partners has a 52-week low of $17.72 and a 52-week high of $25.82. The company’s 50-day moving average price is $20.23 and its 200 day moving average price is $22.15.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Wednesday, May 31st. The shipping company reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.11. The business had revenue of $101.39 million during the quarter, compared to analyst estimates of $100.79 million. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. On average, equities research analysts anticipate that Golar LNG Partners will post $2.49 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC boosted its stake in Golar LNG Partners by 29.0% in the first quarter. Clearbridge Investments LLC now owns 1,533,549 shares of the shipping company’s stock worth $34,259,000 after buying an additional 345,000 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Golar LNG Partners during the first quarter worth about $222,000. Credit Suisse AG boosted its stake in Golar LNG Partners by 23.8% in the first quarter. Credit Suisse AG now owns 24,923 shares of the shipping company’s stock worth $557,000 after buying an additional 4,793 shares during the last quarter. KCG Holdings Inc. purchased a new stake in Golar LNG Partners during the first quarter worth about $300,000. Finally, Renaissance Technologies LLC boosted its stake in Golar LNG Partners by 884.2% in the first quarter. Renaissance Technologies LLC now owns 281,517 shares of the shipping company’s stock worth $6,289,000 after buying an additional 252,912 shares during the last quarter. 77.30% of the stock is owned by hedge funds and other institutional investors.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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