Hoegh LNG Partners LP (NASDAQ:HMLP) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley restated an “overweight” rating and set a $20.50 price objective (down previously from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. ValuEngine cut Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $20.90.

Hoegh LNG Partners (NASDAQ:HMLP) traded up 0.79% during midday trading on Friday, reaching $19.20. The company’s stock had a trading volume of 27,527 shares. Hoegh LNG Partners has a 1-year low of $17.05 and a 1-year high of $20.65. The firm has a market cap of $631.89 million and a price-to-earnings ratio of 9.76. The company has a 50 day moving average price of $18.97 and a 200 day moving average price of $19.30.

Hoegh LNG Partners (NASDAQ:HMLP) last announced its earnings results on Wednesday, May 24th. The shipping company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Hoegh LNG Partners had a return on equity of 33.57% and a net margin of 106.97%. The firm had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $30.17 million. On average, equities research analysts expect that Hoegh LNG Partners will post $1.65 EPS for the current year.

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Several large investors have recently bought and sold shares of the company. Kayne Anderson Capital Advisors LP boosted its stake in Hoegh LNG Partners by 25.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,254,053 shares of the shipping company’s stock valued at $44,283,000 after buying an additional 460,400 shares during the period. FMR LLC boosted its stake in Hoegh LNG Partners by 32.5% in the fourth quarter. FMR LLC now owns 1,417,855 shares of the shipping company’s stock valued at $26,940,000 after buying an additional 348,000 shares during the period. Van ECK Associates Corp acquired a new stake in Hoegh LNG Partners during the first quarter valued at about $2,835,000. Bank of America Corp DE boosted its stake in Hoegh LNG Partners by 179.6% in the first quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock valued at $2,135,000 after buying an additional 69,793 shares during the period. Finally, Green Square Capital LLC boosted its stake in Hoegh LNG Partners by 204.6% in the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock valued at $1,462,000 after buying an additional 49,983 shares during the period.

About Hoegh LNG Partners

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.

Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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