Teekay LNG Partners L.P. (NYSE:TGP) Plans $0.14 Quarterly Dividend
Teekay LNG Partners L.P. (NYSE:TGP) declared a quarterly dividend on Monday, July 10th, Wall Street Journal reports. Investors of record on Friday, August 4th will be given a dividend of 0.14 per share by the shipping company on Friday, August 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, August 2nd.
Teekay LNG Partners L.P. has decreased its dividend payment by an average of 40.8% annually over the last three years. Teekay LNG Partners L.P. has a dividend payout ratio of 40.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Teekay LNG Partners L.P. to earn $2.11 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.5%.
Shares of Teekay LNG Partners L.P. (TGP) traded down 0.92% during midday trading on Monday, reaching $16.10. The company’s stock had a trading volume of 204,271 shares. The company has a market capitalization of $1.28 billion, a P/E ratio of 6.52 and a beta of 1.16. Teekay LNG Partners L.P. has a 1-year low of $9.47 and a 1-year high of $19.90. The stock has a 50 day moving average of $15.56 and a 200-day moving average of $16.64.
Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings results on Thursday, May 18th. The shipping company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.36 by $0.14. Teekay LNG Partners L.P. had a net margin of 33.29% and a return on equity of 6.09%. The firm had revenue of $101.18 million during the quarter, compared to analyst estimates of $104.31 million. On average, equities research analysts anticipate that Teekay LNG Partners L.P. will post $1.62 earnings per share for the current year.
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TGP has been the topic of several analyst reports. TheStreet upgraded shares of Teekay LNG Partners L.P. from a “c” rating to a “b-” rating in a research note on Thursday, May 18th. ValuEngine upgraded shares of Teekay LNG Partners L.P. from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Teekay LNG Partners L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Royal Bank of Canada restated a “hold” rating and issued a $14.00 price target on shares of Teekay LNG Partners L.P. in a research note on Friday, March 17th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $16.00 price target on shares of Teekay LNG Partners L.P. in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $16.60.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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