Teekay Lng Partners, L.P. (NYSE:TGP) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 576,500 shares, a drop of 24.2% from the September 30th total of 760,600 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily volume of 286,600 shares, the days-to-cover ratio is currently 2.0 days.

A number of equities analysts have weighed in on TGP shares. Zacks Investment Research lowered shares of Teekay Lng Partners from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a report on Saturday, November 2nd. TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a report on Thursday, August 1st. Finally, ValuEngine lowered shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.00.

Several institutional investors and hedge funds have recently made changes to their positions in the business. SeaBridge Investment Advisors LLC lifted its holdings in shares of Teekay Lng Partners by 16.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock valued at $99,000 after acquiring an additional 1,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Teekay Lng Partners by 101.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,889 shares of the shipping company’s stock valued at $126,000 after acquiring an additional 4,482 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Teekay Lng Partners during the 2nd quarter worth $200,000. Valmark Advisers Inc. increased its stake in Teekay Lng Partners by 32.1% during the 2nd quarter. Valmark Advisers Inc. now owns 20,746 shares of the shipping company’s stock worth $293,000 after buying an additional 5,047 shares during the period. Finally, Baldwin Investment Management LLC increased its stake in Teekay Lng Partners by 27.9% during the 2nd quarter. Baldwin Investment Management LLC now owns 27,540 shares of the shipping company’s stock worth $388,000 after buying an additional 6,000 shares during the period. Institutional investors own 29.22% of the company’s stock.

Shares of TGP traded up $2.18 during mid-day trading on Thursday, reaching $16.36. The company had a trading volume of 108,097 shares, compared to its average volume of 274,678. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 21.57 and a beta of 1.53. The firm has a fifty day simple moving average of $14.20 and a 200-day simple moving average of $14.40. Teekay Lng Partners has a fifty-two week low of $10.74 and a fifty-two week high of $16.66. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84.

Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Wednesday, November 13th. The shipping company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.05. The company had revenue of $149.70 million for the quarter, compared to analyst estimates of $167.28 million. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. Teekay Lng Partners’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter last year, the business earned $0.16 EPS. As a group, equities analysts predict that Teekay Lng Partners will post 1.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be issued a $0.19 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.65%. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 100.00%.

Teekay Lng Partners Company Profile

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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

Read More: What are catch-up contributions?

Receive News & Ratings for Teekay Lng Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Lng Partners and related companies with MarketBeat.com's FREE daily email newsletter.