Van ECK Associates Corp Has $3.58 Million Stake in Teekay LNG Partners L.P. (TGP)
Van ECK Associates Corp cut its stake in Teekay LNG Partners L.P. (NYSE:TGP) by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,279 shares of the shipping company’s stock after selling 17,266 shares during the period. Van ECK Associates Corp owned approximately 0.25% of Teekay LNG Partners worth $3,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Alliancebernstein L.P. purchased a new stake in shares of Teekay LNG Partners in the first quarter valued at approximately $221,000. Toronto Dominion Bank lifted its holdings in Teekay LNG Partners by 103.7% in the third quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock valued at $256,000 after acquiring an additional 403,411 shares during the last quarter. Virtu KCG Holdings LLC acquired a new position in Teekay LNG Partners in the second quarter valued at approximately $249,000. CNH Partners LLC lifted its holdings in Teekay LNG Partners by 1.0% in the second quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock valued at $315,000 after acquiring an additional 200 shares during the last quarter. Finally, Beach Investment Management LLC. acquired a new position in Teekay LNG Partners in the second quarter valued at approximately $524,000. Institutional investors and hedge funds own 36.35% of the company’s stock.
A number of research analysts recently commented on TGP shares. UBS decreased their price objective on Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, November 10th. Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners in a report on Friday, October 13th. Finally, TheStreet cut Teekay LNG Partners from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.50.
Teekay LNG Partners L.P. (NYSE TGP) traded up $0.55 on Wednesday, reaching $18.05. The company had a trading volume of 287,700 shares, compared to its average volume of 299,488. Teekay LNG Partners L.P. has a 12-month low of $13.80 and a 12-month high of $19.90. The firm has a market capitalization of $1,373.56, a PE ratio of 19.83 and a beta of 1.26. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.22.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Thursday, November 2nd. Teekay LNG Partners’s dividend payout ratio is presently 68.29%.
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Teekay LNG Partners Company Profile
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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