Höegh LNG Partners LP Plans Quarterly Dividend of $0.01 (NYSE:HMLP)

Höegh LNG Partners LP (NYSE:HMLP) declared a quarterly dividend on Thursday, January 13th, Zacks reports. Investors of record on Thursday, January 27th will be given a dividend of 0.01 per share by the shipping company on Tuesday, February 15th. This represents a $0.04 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, January 26th.

Höegh LNG Partners has decreased its dividend by 48.6% over the last three years and has raised its dividend every year for the last 1 years. Höegh LNG Partners has a dividend payout ratio of 3.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Höegh LNG Partners to earn $1.43 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.8%.

HMLP opened at $4.48 on Friday. The stock’s 50-day moving average price is $4.42 and its 200 day moving average price is $6.58. Höegh LNG Partners has a 12-month low of $3.77 and a 12-month high of $18.17. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.01. The firm has a market cap of $149.23 million, a price-to-earnings ratio of 3.13 and a beta of 1.58.

Höegh LNG Partners (NYSE:HMLP) last posted its earnings results on Thursday, November 18th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Höegh LNG Partners had a return on equity of 15.83% and a net margin of 44.18%. The firm had revenue of $35.60 million for the quarter, compared to analyst estimates of $35.38 million. During the same quarter in the prior year, the company earned $0.42 EPS. On average, research analysts forecast that Höegh LNG Partners will post 1.33 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in HMLP. Millennium Management LLC acquired a new stake in Höegh LNG Partners during the 3rd quarter worth approximately $345,000. Jane Street Group LLC acquired a new stake in Höegh LNG Partners during the 3rd quarter worth approximately $119,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Höegh LNG Partners in the 3rd quarter valued at approximately $65,000. Finally, UBS Group AG lifted its holdings in shares of Höegh LNG Partners by 65.0% in the 3rd quarter. UBS Group AG now owns 8,813 shares of the shipping company’s stock valued at $44,000 after buying an additional 3,472 shares during the period. Hedge funds and other institutional investors own 17.69% of the company’s stock.

A number of research firms have recently commented on HMLP. B. Riley dropped their price objective on Höegh LNG Partners from $5.00 to $4.25 and set a “neutral” rating on the stock in a report on Thursday, December 9th. Zacks Investment Research downgraded Höegh LNG Partners from a “buy” rating to a “hold” rating in a report on Wednesday, January 5th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.00.

About Höegh LNG Partners

Höegh LNG Partners LP engages in undertaking of floating storage and re-gasification units (FSRUs). It operates through the Majority Held FSRUs, and Joint Venture FSRUs segments. The Majority Held FSRUs segment includes the direct financing lease related to the PGN FSRU Lampung and the operating leases related to the Hoegh Gallant and the Hoegh Grace.

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Dividend History for Höegh LNG Partners (NYSE:HMLP)

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