Teekay Lng Partners (NYSE:TGP) had its target price cut by research analysts at Wells Fargo & Co from $22.00 to $15.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the shipping company’s stock. Wells Fargo & Co’s target price would suggest a potential upside of 17.28% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, August 9th. ValuEngine upgraded shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Deutsche Bank assumed coverage on shares of Teekay Lng Partners in a report on Wednesday, October 10th. They issued a “hold” rating and a $17.00 target price for the company. Finally, Jefferies Financial Group restated a “neutral” rating on shares of Teekay Lng Partners in a report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.75.

Shares of NYSE TGP opened at $12.79 on Wednesday. The stock has a market cap of $1.08 billion, a PE ratio of 12.79 and a beta of 1.33. Teekay Lng Partners has a 12 month low of $12.71 and a 12 month high of $21.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.83.

Teekay Lng Partners (NYSE:TGP) last issued its quarterly earnings results on Thursday, November 15th. The shipping company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.18). The firm had revenue of $115.38 million for the quarter, compared to analysts’ expectations of $125.21 million. Teekay Lng Partners had a return on equity of 5.75% and a net margin of 18.92%. On average, research analysts predict that Teekay Lng Partners will post 0.87 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Banco de Sabadell S.A grew its holdings in Teekay Lng Partners by 188.1% in the third quarter. Banco de Sabadell S.A now owns 6,914 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 4,514 shares during the period. LPL Financial LLC purchased a new stake in Teekay Lng Partners in the third quarter valued at approximately $218,000. Gator Capital Management LLC grew its stake in Teekay Lng Partners by 17.0% during the third quarter. Gator Capital Management LLC now owns 55,030 shares of the shipping company’s stock worth $371,000 after buying an additional 8,000 shares during the period. Bank of Montreal Can purchased a new stake in Teekay Lng Partners during the second quarter worth approximately $546,000. Finally, Russell Investments Group Ltd. purchased a new stake in Teekay Lng Partners during the second quarter worth approximately $608,000. Hedge funds and other institutional investors own 34.23% of the company’s stock.

About Teekay Lng Partners

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

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Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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