Hoegh LNG Partners (HMLP) Given New $20.00 Price Target at Bank of America
Hoegh LNG Partners (NYSE:HMLP) had its target price reduced by stock analysts at Bank of America from $21.00 to $20.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the shipping company’s stock. Bank of America’s price target points to a potential upside of 15.27% from the stock’s previous close.
HMLP has been the topic of several other reports. Morgan Stanley dropped their price target on Hoegh LNG Partners from $20.50 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Zacks Investment Research downgraded Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Finally, ValuEngine downgraded Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Hoegh LNG Partners presently has an average rating of “Hold” and an average target price of $20.60.
Hoegh LNG Partners (NYSE HMLP) opened at $17.35 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.73 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $343.06, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 0.59 and a beta of 0.89. Hoegh LNG Partners has a 1 year low of $16.75 and a 1 year high of $20.65.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in shares of Hoegh LNG Partners during the fourth quarter valued at approximately $214,000. Stifel Financial Corp increased its position in shares of Hoegh LNG Partners by 3.3% during the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after purchasing an additional 591 shares during the period. SeaCrest Wealth Management LLC bought a new stake in shares of Hoegh LNG Partners during the fourth quarter valued at approximately $475,000. CNA Financial Corp increased its position in shares of Hoegh LNG Partners by 20.7% during the fourth quarter. CNA Financial Corp now owns 30,967 shares of the shipping company’s stock valued at $578,000 after purchasing an additional 5,318 shares during the period. Finally, Raymond James & Associates increased its position in shares of Hoegh LNG Partners by 15.1% during the fourth quarter. Raymond James & Associates now owns 36,610 shares of the shipping company’s stock valued at $683,000 after purchasing an additional 4,810 shares during the period. Institutional investors and hedge funds own 65.15% of the company’s stock.
About Hoegh LNG Partners
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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