Golar LNG Limited (GLNG) to Issue Quarterly Dividend of $0.25 on March 18th

Golar LNG Limited (NASDAQ:GLNG) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Monday, March 9th will be paid a dividend of 0.25 per share by the shipping company on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, March 9th.

Golar LNG has a payout ratio of 96.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Golar LNG to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 61.7%.

Golar LNG Trading Up 1.8%

Shares of GLNG stock opened at $47.08 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.32 and a current ratio of 2.55. The stock has a market capitalization of $4.92 billion, a P/E ratio of 73.56 and a beta of 0.18. The company has a 50 day moving average price of $41.58 and a 200 day moving average price of $40.21. Golar LNG has a fifty-two week low of $29.56 and a fifty-two week high of $47.48.

Golar LNG (NASDAQ:GLNG) last announced its earnings results on Wednesday, February 25th. The shipping company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). The business had revenue of $132.81 million for the quarter, compared to analysts’ expectations of $123.29 million. Golar LNG had a return on equity of 6.24% and a net margin of 16.69%. Equities research analysts predict that Golar LNG will post 1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Golar LNG

A number of institutional investors and hedge funds have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in Golar LNG by 253.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,306,379 shares of the shipping company’s stock valued at $85,821,000 after buying an additional 1,654,353 shares during the last quarter. Danske Bank A S acquired a new stake in Golar LNG in the third quarter valued at $56,574,000. Verbena Value LP purchased a new stake in Golar LNG during the 4th quarter worth about $38,497,000. Clearline Capital LP boosted its position in shares of Golar LNG by 172.6% during the 4th quarter. Clearline Capital LP now owns 1,067,153 shares of the shipping company’s stock worth $39,709,000 after acquiring an additional 675,744 shares in the last quarter. Finally, PointState Capital LP boosted its position in shares of Golar LNG by 19.3% during the 4th quarter. PointState Capital LP now owns 3,932,104 shares of the shipping company’s stock worth $146,314,000 after acquiring an additional 637,081 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.