Zacks Investment Research upgraded shares of Hoegh LNG Partners (NYSE:HMLP) from a hold rating to a buy rating in a report published on Wednesday. The firm currently has $20.00 price target on the shipping company’s stock.

According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “

Several other equities analysts have also commented on the stock. ValuEngine upgraded shares of Hoegh LNG Partners from a sell rating to a hold rating in a research note on Monday, October 8th. Berenberg Bank began coverage on Hoegh LNG Partners in a report on Thursday, September 6th. They issued a hold rating and a $19.00 price objective for the company. B. Riley began coverage on Hoegh LNG Partners in a report on Wednesday, September 5th. They issued a buy rating and a $21.00 price objective for the company. DNB Markets downgraded Hoegh LNG Partners from a buy rating to a hold rating in a report on Friday, August 3rd. Finally, BTIG Research began coverage on Hoegh LNG Partners in a report on Wednesday, July 18th. They issued a neutral rating for the company. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $19.83.

Hoegh LNG Partners stock traded up $0.07 during mid-day trading on Wednesday, hitting $17.66. The company had a trading volume of 182,181 shares, compared to its average volume of 130,359. The firm has a market capitalization of $607.09 million, a P/E ratio of 12.99, a P/E/G ratio of 0.77 and a beta of 0.92. Hoegh LNG Partners has a 1 year low of $15.32 and a 1 year high of $19.85. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 1.10.

Hoegh LNG Partners (NYSE:HMLP) last announced its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.13. The company had revenue of $36.61 million for the quarter, compared to analyst estimates of $36.19 million. Hoegh LNG Partners had a net margin of 46.62% and a return on equity of 14.66%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, research analysts expect that Hoegh LNG Partners will post 1.67 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Hoegh LNG Partners by 1.8% during the second quarter. FMR LLC now owns 1,975,906 shares of the shipping company’s stock worth $35,468,000 after purchasing an additional 34,900 shares during the period. Renaissance Technologies LLC lifted its holdings in Hoegh LNG Partners by 44.6% in the second quarter. Renaissance Technologies LLC now owns 476,500 shares of the shipping company’s stock valued at $8,553,000 after acquiring an additional 147,000 shares during the period. Millennium Management LLC lifted its holdings in Hoegh LNG Partners by 565.4% in the first quarter. Millennium Management LLC now owns 324,726 shares of the shipping company’s stock valued at $5,261,000 after acquiring an additional 275,921 shares during the period. Green Square Capital LLC lifted its holdings in Hoegh LNG Partners by 42.3% in the second quarter. Green Square Capital LLC now owns 144,309 shares of the shipping company’s stock valued at $2,590,000 after acquiring an additional 42,876 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in Hoegh LNG Partners by 215.1% in the first quarter. California Public Employees Retirement System now owns 117,200 shares of the shipping company’s stock valued at $1,899,000 after acquiring an additional 80,000 shares during the period. 27.03% of the stock is owned by hedge funds and other institutional investors.

About Hoegh LNG Partners

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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