Jefferies Group Reiterates “Buy” Rating for Golar LNG Partners LP (GMLP)
Golar LNG Partners LP (NASDAQ:GMLP)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a research note issued to investors on Monday. They presently have a $25.00 price objective on the stock. Jefferies Group’s price objective suggests a potential upside of 15.42% from the stock’s current price.
GMLP has been the subject of a number of other reports. Morgan Stanley set a $15.00 price target on Golar LNG Partners and gave the company a “hold” rating in a research note on Tuesday, September 6th. Zacks Investment Research raised Golar LNG Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, June 29th.
Shares of Golar LNG Partners (NASDAQ:GMLP) traded up 1.20% during trading on Monday, reaching $21.92. 79,799 shares of the company traded hands. The stock has a market cap of $1.37 billion, a P/E ratio of 10.20 and a beta of 1.01. The stock’s 50 day moving average price is $19.54 and its 200-day moving average price is $18.01. Golar LNG Partners has a 12 month low of $7.55 and a 12 month high of $22.42.
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Golar LNG Partners (NASDAQ:GMLP) last announced its quarterly earnings results on Wednesday, August 31st. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by $0.16. On average, equities research analysts expect that Golar LNG Partners will post $2.17 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of GMLP. Creative Planning raised its position in shares of Golar LNG Partners by 43.2% in the third quarter. Creative Planning now owns 5,300 shares of the company’s stock valued at $104,000 after buying an additional 1,600 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Golar LNG Partners by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $139,000 after buying an additional 3,000 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Golar LNG Partners by 98.2% in the second quarter. Quantbot Technologies LP now owns 8,062 shares of the company’s stock valued at $147,000 after buying an additional 3,994 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Golar LNG Partners during the second quarter valued at about $173,000. Finally, Raymond James & Associates acquired a new position in shares of Golar LNG Partners during the second quarter valued at about $330,000.
Golar LNG Partners Company Profile
Golar LNG Partners LP (Golar LNG Partners) owns and operates floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters. The Company operates a fleet of around six FSRU vessels and four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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