Hoegh LNG Partners (HMLP) Raised to Buy at Zacks Investment Research
Hoegh LNG Partners (NASDAQ:HMLP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $21.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.30% from the company’s previous close.
According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “
HMLP has been the topic of several other reports. Barclays PLC reiterated an “equal weight” rating and issued a $20.00 price objective (up from $19.00) on shares of Hoegh LNG Partners in a research report on Tuesday, August 30th. Morgan Stanley reiterated a “hold” rating on shares of Hoegh LNG Partners in a research report on Friday, August 26th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $21.00 price objective (up from $18.50) on shares of Hoegh LNG Partners in a research report on Friday, August 26th.
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Hoegh LNG Partners (NASDAQ:HMLP) remained flat at $18.70 during midday trading on Tuesday. The stock had a trading volume of 4,619 shares. Hoegh LNG Partners has a 12 month low of $11.50 and a 12 month high of $19.56. The stock has a 50 day moving average price of $18.20 and a 200-day moving average price of $18.11. The firm has a market capitalization of $492.22 million and a price-to-earnings ratio of 19.46.
Hoegh LNG Partners (NASDAQ:HMLP) last issued its earnings results on Thursday, August 25th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.42 by $0.26. The business had revenue of $22.80 million for the quarter, compared to the consensus estimate of $23.47 million. On average, equities research analysts forecast that Hoegh LNG Partners will post $1.17 EPS for the current year.
Hoegh LNG Partners Company Profile
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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