Golar LNG Partners LP (GMLP) Stock Rating Lowered by Zacks Investment Research
Golar LNG Partners LP (NASDAQ:GMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “
Several other brokerages also recently issued reports on GMLP. Jefferies Group assumed coverage on shares of Golar LNG Partners in a research report on Tuesday, September 13th. They set a “buy” rating and a $25.00 price objective on the stock. Morgan Stanley set a $15.00 price objective on shares of Golar LNG Partners and gave the company a “hold” rating in a research report on Tuesday, September 6th.
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Golar LNG Partners (NASDAQ:GMLP) traded down 0.14% on Tuesday, hitting $21.84. 319,094 shares of the stock were exchanged. The firm has a market cap of $1.36 billion, a P/E ratio of 10.16 and a beta of 1.01. Golar LNG Partners has a 12 month low of $7.55 and a 12 month high of $22.42. The company has a 50-day moving average of $19.71 and a 200 day moving average of $18.16.
Golar LNG Partners (NASDAQ:GMLP) last issued its earnings results on Wednesday, August 31st. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by $0.16. Equities research analysts expect that Golar LNG Partners will post $2.17 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Societe Generale bought a new position in shares of Golar LNG Partners during the second quarter worth $591,000. Quantbot Technologies LP increased its position in 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 during the last quarter. Peak Asset Management LLC increased its position in Golar LNG Partners by 9.5% in the second quarter. Peak Asset Management LLC now owns 44,280 shares of the company’s stock valued at $812,000 after buying an additional 3,827 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new position in Golar LNG Partners during the second quarter valued at $1,268,000. Finally, Sippican Capital Advisors increased its position in Golar LNG Partners by 84.0% in the second quarter. Sippican Capital Advisors now owns 24,375 shares of the company’s stock valued at $447,000 after buying an additional 11,125 shares during the last quarter.
About Golar LNG Partners
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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