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Morgan Stanley initiated coverage on shares of Dynagas LNG Partners LP (NASDAQ:DLNG) in a research note issued on Monday, ARN reports. The firm set an “equal weight” rating and a $21.50 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 10.48% from the company’s current price.

The analysts wrote, “Initiating coverage of Dynagas at Equal-weight with a $21.5 price target. DLNG’s current fleet of 3 modern LNG carrier offers annualized distribution of $1.46 per unit that is well supported by solid cash flow with upside potential and 1.1x common unit coverage. As the fleet grows through a series of dropdowns, we expect distribution gradually to rise at a rate of ~10% per year and the stock to trade based on a 12-month forward dividend yield of ~7.5%, resulting in our $21.5 PT for a total return of ~20%. Our $26 bull case assumes higher distribution growth to ~$1.70 at a yield below 7%. Our bear case is based on an NAV of $14, representing the fleet liquidation value.”

Shares of Dynagas LNG Partners LP (NASDAQ:DLNG) traded up 2.72% on Monday, hitting $19.99. 128,308 shares of the company’s stock traded hands. Dynagas LNG Partners LP has a 1-year low of $16.75 and a 1-year high of $19.70. The stock’s 50-day moving average is $18.51 and its 200-day moving average is $18.51. The company has a market cap of $599.7 million and a P/E ratio of 11.09.

Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. initiated coverage on shares of Dynagas LNG Partners LP in a research note to investors on Monday. They set a “buy” rating and a $24.00 price target on the stock. Separately, analysts at Credit Suisse initiated coverage on shares of Dynagas LNG Partners LP in a research note to investors on Monday. They set an “outperform” rating on the stock. Finally, analysts at Deutsche Bank initiated coverage on shares of Dynagas LNG Partners LP in a research note to investors on Monday. They set a “hold” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $21.83.

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