Hoegh LNG Partners LP (NASDAQ:HMLP) Downgraded by BidaskClub to Sell
BidaskClub downgraded shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a hold rating to a sell rating in a research report released on Saturday.
HMLP has been the topic of a number of other reports. ValuEngine cut Hoegh LNG Partners from a buy rating to a hold rating in a report on Friday, June 2nd. Morgan Stanley reiterated an overweight rating and issued a $20.50 target price (down from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. Zacks Investment Research cut Hoegh LNG Partners from a hold rating to a strong sell rating in a report on Tuesday, July 25th. Finally, Barclays PLC upgraded Hoegh LNG Partners from an equal weight rating to an overweight rating and raised their price objective for the company from $21.00 to $22.00 in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Hoegh LNG Partners has a consensus rating of Hold and an average target price of $21.10.
Shares of Hoegh LNG Partners (NASDAQ:HMLP) opened at 18.80 on Friday. Hoegh LNG Partners has a 12-month low of $17.05 and a 12-month high of $20.65. The stock has a 50 day moving average of $19.15 and a 200-day moving average of $19.41. The firm has a market capitalization of $618.73 million and a P/E ratio of 9.56.
Hoegh LNG Partners (NASDAQ:HMLP) last issued its earnings results on Wednesday, May 24th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Hoegh LNG Partners had a return on equity of 33.57% and a net margin of 106.97%. The company had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $30.17 million. On average, equities research analysts predict that Hoegh LNG Partners will post $1.64 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 9.15%. The ex-dividend date of this dividend is Tuesday, August 1st.
A number of institutional investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP boosted its position in shares of Hoegh LNG Partners by 1.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after buying an additional 43,400 shares during the period. Forward Management LLC boosted its position in shares of Hoegh LNG Partners by 125.8% in the second quarter. Forward Management LLC now owns 20,100 shares of the shipping company’s stock valued at $385,000 after buying an additional 11,200 shares during the period. Acadian Asset Management LLC bought a new position in shares of Hoegh LNG Partners during the second quarter valued at $428,000. BB&T Corp bought a new position in shares of Hoegh LNG Partners during the second quarter valued at $192,000. Finally, Green Square Capital LLC boosted its position in shares of Hoegh LNG Partners by 204.6% in the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock valued at $1,462,000 after buying an additional 49,983 shares during the period.
Hoegh LNG Partners Company Profile
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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