DNB Markets Lowers GasLog LP. (GLOG) to Hold
DNB Markets lowered shares of GasLog LP. (NYSE:GLOG) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. DNB Markets currently has $17.80 price objective on the shipping company’s stock.
GLOG has been the subject of a number of other reports. Jefferies Group LLC reissued a buy rating and issued a $20.00 price target on shares of GasLog LP. in a report on Tuesday, September 5th. Zacks Investment Research raised GasLog LP. from a sell rating to a hold rating in a report on Friday, July 28th. ValuEngine raised GasLog LP. from a sell rating to a hold rating in a report on Friday, June 2nd. Finally, BidaskClub cut GasLog LP. from a buy rating to a hold rating in a report on Monday, August 14th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $18.98.
Shares of GasLog LP. (NYSE GLOG) remained flat at $16.85 during mid-day trading on Wednesday. The company’s stock had a trading volume of 340,280 shares. GasLog LP. has a 1-year low of $12.70 and a 1-year high of $18.35. The company’s 50-day moving average price is $16.74 and its 200-day moving average price is $15.27. The firm’s market capitalization is $1.35 billion.
GasLog LP. (NYSE:GLOG) last released its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The company had revenue of $129.90 million during the quarter, compared to analyst estimates of $128.14 million. During the same period last year, the firm earned ($0.01) earnings per share. The business’s revenue was up 13.4% compared to the same quarter last year. On average, equities analysts anticipate that GasLog LP. will post $0.10 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Monday, August 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.56 annualized dividend and a yield of 3.32%. GasLog LP.’s payout ratio is currently -800.00%.
Institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC acquired a new position in GasLog LP. in the first quarter valued at $13,445,000. Capital Management Associates NY acquired a new position in GasLog LP. in the second quarter valued at $290,000. Pinnacle Associates Ltd. increased its stake in GasLog LP. by 14.1% in the first quarter. Pinnacle Associates Ltd. now owns 44,677 shares of the shipping company’s stock valued at $686,000 after purchasing an additional 5,504 shares during the last quarter. Russell Investments Group Ltd. increased its stake in GasLog LP. by 108.0% in the first quarter. Russell Investments Group Ltd. now owns 26,000 shares of the shipping company’s stock valued at $399,000 after purchasing an additional 13,500 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP increased its stake in GasLog LP. by 40.8% in the second quarter. Kayne Anderson Capital Advisors LP now owns 509,547 shares of the shipping company’s stock valued at $7,760,000 after purchasing an additional 147,547 shares during the last quarter. Hedge funds and other institutional investors own 48.51% of the company’s stock.
GasLog LP. Company Profile
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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