Recent Analysts’ Ratings Updates for Hoegh LNG Partners (HMLP)
A number of stock research firms have changed their ratings and price targets for Hoegh LNG Partners (NASDAQ: HMLP) during the last seven days:
- Hoegh LNG Partners is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $28.00 price target on the stock.
- Hoegh LNG Partners is now covered by analysts at Barclays. They set an “equal weight” rating and a $28.00 price target on the stock.
- Hoegh LNG Partners is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $24.00 price target on the stock. They wrote, “HMLP is focused exclusively on the floating regasification segment of the LNG market, with a fleet of 3 modern purpose-built FSRU (1 fully owned, 2 in a 50/50 JV). It distributes an annual $1.35/unit that is well protected at 1.1x total unit coverage and by the 17 year average contract coverage for its initial fleet. HMLP’s distribution is guided to rise by 25%+ with the drop down of one already contracted FSRU, bringing it to ~$1.70 per unit by end-2015. We apply a 7% forward yield, equal to its peers’ target yield on their distribution after contracted dropdowns, resulting in our $24 PT. Our $32 bull case values the stock at a 6% yield and ~$1.90 distribution, assuming chartering and dropdowns of two uncontracted new builds and further growth of the drop down pipeline. Our $16 bear case values the stock at NAV.”
- Hoegh LNG Partners is now covered by analysts at Bank of America. They set a “buy” rating and a $28.00 price target on the stock.
Shares of Hoegh LNG Partners LP (NASDAQ:HMLP) opened at 24.45 on Friday. Hoegh LNG Partners LP has a 52 week low of $21.75 and a 52 week high of $26.50. The stock has a 50-day moving average of $24.64 and a 200-day moving average of $24.64. The company has a market cap of $643.3 million and a P/E ratio of 21.65.
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