Teekay LNG Partners L.P. (TGP) Expected to Post Quarterly Sales of $110.99 Million
Wall Street analysts expect that Teekay LNG Partners L.P. (NYSE:TGP) will report $110.99 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Teekay LNG Partners’ earnings, with the lowest sales estimate coming in at $108.73 million and the highest estimate coming in at $112.42 million. Teekay LNG Partners reported sales of $100.47 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Teekay LNG Partners will report full year sales of $110.99 million for the current fiscal year, with estimates ranging from $411.20 million to $425.67 million. For the next financial year, analysts forecast that the company will post sales of $520.80 million per share, with estimates ranging from $492.55 million to $570.98 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Teekay LNG Partners.
Several brokerages have issued reports on TGP. Stifel Nicolaus reaffirmed a “hold” rating and set a $16.00 target price on shares of Teekay LNG Partners in a research note on Friday, October 13th. TheStreet cut shares of Teekay LNG Partners from a “b-” rating to a “c” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. Finally, UBS lowered their price target on shares of Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Teekay LNG Partners has an average rating of “Hold” and a consensus price target of $17.50.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Icon Advisers Inc. Co. boosted its holdings in Teekay LNG Partners by 9.5% in the second quarter. Icon Advisers Inc. Co. now owns 556,207 shares of the shipping company’s stock valued at $8,538,000 after purchasing an additional 48,200 shares in the last quarter. Airain ltd boosted its holdings in shares of Teekay LNG Partners by 14.9% in the second quarter. Airain ltd now owns 167,745 shares of the shipping company’s stock valued at $2,575,000 after acquiring an additional 21,699 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Teekay LNG Partners in the first quarter valued at approximately $670,000. Cetera Investment Advisers acquired a new stake in shares of Teekay LNG Partners in the second quarter valued at approximately $1,073,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Teekay LNG Partners by 13.4% during the second quarter. JPMorgan Chase & Co. now owns 2,500,726 shares of the shipping company’s stock worth $38,386,000 after purchasing an additional 295,184 shares during the last quarter. 36.35% of the stock is owned by hedge funds and other institutional investors.
Teekay LNG Partners (NYSE:TGP) traded up $0.55 during trading hours on Wednesday, hitting $18.05. 287,700 shares of the stock traded hands, compared to its average volume of 299,488. Teekay LNG Partners has a 52-week low of $13.80 and a 52-week high of $19.90. The stock has a market cap of $1,373.56, a price-to-earnings ratio of 19.83 and a beta of 1.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.32 and a current ratio of 0.32.
The company also recently announced a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.10%. Teekay LNG Partners’s payout ratio is 68.29%.
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About Teekay LNG Partners
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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