Teekay LNG Partners L.P. (TGP) Trading Up 3%
Teekay LNG Partners L.P. (NYSE:TGP) shares were up 3% during mid-day trading on Wednesday . The company traded as high as $14.53 and last traded at $14.27, with a volume of 310,069 shares trading hands. The stock had previously closed at $13.85.
A number of research analysts have recently issued reports on TGP shares. Zacks Investment Research downgraded Teekay LNG Partners L.P. from a “hold” rating to a “strong sell” rating in a research note on Friday, June 3rd. Wells Fargo & Co. raised Teekay LNG Partners L.P. from a “market perform” rating to an “outperform” rating in a research note on Friday, September 9th. Finally, Jefferies Group reissued a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a research note on Tuesday, September 13th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.60.
The company’s 50 day moving average price is $13.03 and its 200 day moving average price is $12.63. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 14.78 and a beta of 1.29.
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Teekay LNG Partners L.P. (NYSE:TGP) last released its earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.28. On average, equities research analysts anticipate that Teekay LNG Partners L.P. will post $2.22 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC boosted its position in Teekay LNG Partners L.P. by 2.0% in the second quarter. Neuberger Berman Group LLC now owns 11,819,003 shares of the company’s stock worth $132,963,000 after buying an additional 236,850 shares in the last quarter. FMR LLC boosted its position in Teekay LNG Partners L.P. by 98.9% in the second quarter. FMR LLC now owns 7,955,100 shares of the company’s stock worth $89,495,000 after buying an additional 3,955,560 shares in the last quarter. Harvest Fund Advisors LLC boosted its position in Teekay LNG Partners L.P. by 0.6% in the first quarter. Harvest Fund Advisors LLC now owns 2,272,864 shares of the company’s stock worth $28,820,000 after buying an additional 12,475 shares in the last quarter. Credit Suisse AG boosted its position in Teekay LNG Partners L.P. by 153.1% in the second quarter. Credit Suisse AG now owns 803,871 shares of the company’s stock worth $9,044,000 after buying an additional 486,276 shares in the last quarter. Finally, Icon Advisers Inc. Co. purchased a new position in Teekay LNG Partners L.P. during the first quarter worth approximately $5,664,000.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. (Teekay LNG Partners) is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Teekay LNG Partners operates through two segments: its liquefied gas segment and its conventional tanker segment.
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