Teekay LNG Partners L.P. (TGP) Short Interest Down 46.0% in September
Teekay LNG Partners L.P. (NYSE:TGP) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 625,495 shares, a decrease of 46.0% from the September 15th total of 1,158,758 shares. Based on an average daily volume of 435,359 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.2% of the shares of the company are sold short.
Several brokerages recently weighed in on TGP. Jefferies Group restated a “hold” rating and set a $16.00 target price on shares of Teekay LNG Partners L.P. in a research note on Tuesday, September 13th. Wells Fargo & Co. upgraded Teekay LNG Partners L.P. from a “market perform” rating to an “outperform” rating in a research note on Friday, September 9th. Finally, Zacks Investment Research downgraded Teekay LNG Partners L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $16.60.
Shares of Teekay LNG Partners L.P. (NYSE:TGP) opened at 15.55 on Wednesday. The company has a market cap of $1.24 billion, a PE ratio of 16.20 and a beta of 1.29. The firm’s 50-day moving average is $14.65 and its 200-day moving average is $13.05. Teekay LNG Partners L.P. has a 12 month low of $7.92 and a 12 month high of $26.34.
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Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.28. On average, equities research analysts predict that Teekay LNG Partners L.P. will post $2.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, November 2nd.
Hedge funds have recently bought and sold shares of the company. Stifel Financial Corp increased its stake in Teekay LNG Partners L.P. by 0.3% in the second quarter. Stifel Financial Corp now owns 95,511 shares of the company’s stock worth $1,075,000 after buying an additional 320 shares in the last quarter. Trust Asset Management LLC increased its stake in Teekay LNG Partners L.P. by 2.5% in the second quarter. Trust Asset Management LLC now owns 25,827 shares of the company’s stock worth $291,000 after buying an additional 627 shares in the last quarter. GSA Capital Partners LLP increased its stake in Teekay LNG Partners L.P. by 2.9% in the second quarter. GSA Capital Partners LLP now owns 30,372 shares of the company’s stock worth $342,000 after buying an additional 854 shares in the last quarter. California Public Employees Retirement System increased its stake in Teekay LNG Partners L.P. by 2.1% in the second quarter. California Public Employees Retirement System now owns 66,600 shares of the company’s stock worth $749,000 after buying an additional 1,400 shares in the last quarter. Finally, State Street Corp increased its stake in Teekay LNG Partners L.P. by 4.0% in the first quarter. State Street Corp now owns 47,632 shares of the company’s stock worth $604,000 after buying an additional 1,836 shares in the last quarter.
Teekay LNG Partners L.P. Company Profile
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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