BROOKFIELD Corp ON Acquires 89,512 Shares of Golar LNG Limited $GLNG

BROOKFIELD Corp ON increased its holdings in Golar LNG Limited (NASDAQ:GLNG) by 12.8% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 789,859 shares of the shipping company’s stock after purchasing an additional 89,512 shares during the period. BROOKFIELD Corp ON’s holdings in Golar LNG were worth $42,739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GLNG. Caitong International Asset Management Co. Ltd raised its position in Golar LNG by 278.2% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after purchasing an additional 484 shares during the period. AdvisorNet Financial Inc boosted its position in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after buying an additional 268 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Golar LNG during the fourth quarter valued at about $44,000. EverSource Wealth Advisors LLC boosted its position in Golar LNG by 94.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after buying an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Golar LNG during the fourth quarter valued at about $65,000. Institutional investors own 92.21% of the company’s stock.

Golar LNG Stock Performance

Shares of NASDAQ:GLNG opened at $48.62 on Monday. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 35.23 and a beta of 0.02. The company has a 50-day moving average price of $50.77 and a 200-day moving average price of $48.76. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.14. Golar LNG Limited has a 12 month low of $35.02 and a 12 month high of $57.79.

Golar LNG (NASDAQ:GLNG) last posted its earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. The company had revenue of $137.55 million during the quarter. Golar LNG had a net margin of 30.10% and a return on equity of 6.86%. As a group, equities analysts anticipate that Golar LNG Limited will post 0.72 EPS for the current year.

Golar LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, June 1st were issued a $0.25 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.00 annualized dividend and a yield of 2.1%. Golar LNG’s dividend payout ratio (DPR) is 72.46%.

Analysts Set New Price Targets

GLNG has been the topic of several analyst reports. Wall Street Zen downgraded Golar LNG from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings upgraded Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. The Goldman Sachs Group set a $66.00 price target on Golar LNG and gave the stock a “conviction-buy” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price target on shares of Golar LNG in a research note on Thursday, May 21st. Finally, BTIG Research reiterated a “buy” rating and issued a $67.00 price objective on shares of Golar LNG in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Golar LNG has an average rating of “Moderate Buy” and an average target price of $58.70.

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.