Morgan Stanley Lowers Hoegh LNG Partners (HMLP) Price Target to $20.00
Hoegh LNG Partners (NYSE:HMLP) had its target price decreased by Morgan Stanley from $20.50 to $20.00 in a report issued on Monday morning. Morgan Stanley currently has an overweight rating on the shipping company’s stock.
A number of other brokerages also recently issued reports on HMLP. Zacks Investment Research downgraded shares of Hoegh LNG Partners from a hold rating to a strong sell rating in a report on Tuesday, October 24th. ValuEngine downgraded shares of Hoegh LNG Partners from a buy rating to a hold rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $21.33.
Shares of Hoegh LNG Partners (HMLP) opened at $18.10 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.63 and a current ratio of 0.64. The stock has a market cap of $341.08, a PE ratio of 16.27, a PEG ratio of 0.63 and a beta of 0.88. Hoegh LNG Partners has a 1-year low of $16.75 and a 1-year high of $20.65.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date of this dividend is Wednesday, January 31st. Hoegh LNG Partners’s payout ratio is presently 109.55%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP purchased a new stake in shares of Hoegh LNG Partners during the 4th quarter valued at about $214,000. Stifel Financial Corp boosted its holdings in shares of Hoegh LNG Partners by 3.3% in the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock worth $351,000 after buying an additional 591 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Hoegh LNG Partners in the fourth quarter worth approximately $475,000. CNA Financial Corp boosted its holdings in shares of Hoegh LNG Partners by 20.7% in the fourth quarter. CNA Financial Corp now owns 30,967 shares of the shipping company’s stock worth $578,000 after buying an additional 5,318 shares during the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Hoegh LNG Partners in the fourth quarter worth approximately $812,000. 64.57% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: “Morgan Stanley Lowers Hoegh LNG Partners (HMLP) Price Target to $20.00” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.dailypolitical.com/2018/02/13/morgan-stanley-lowers-hoegh-lng-partners-hmlp-price-target-to-20-00.html.
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.
Receive News & Ratings for Hoegh LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hoegh LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.