Zacks Investment Research Upgrades Dynagas LNG Partners LP (DLNG) to “Hold”
Dynagas LNG Partners LP (NYSE:DLNG) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Dynagas LNG Partners LP is focused on owning and operating LNG carriers that are employed on multi-year contracts with international energy companies. Dynagas LNG Partners LP is based in Glyfada, Greece. “
Several other analysts have also issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Dynagas LNG Partners in a research report on Monday, June 12th. Stifel Nicolaus boosted their target price on shares of Dynagas LNG Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Maxim Group set a $20.00 target price on shares of Dynagas LNG Partners and gave the company a “buy” rating in a report on Monday, May 22nd. BidaskClub lowered shares of Dynagas LNG Partners from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Morgan Stanley reduced their price target on shares of Dynagas LNG Partners to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.25.
Shares of Dynagas LNG Partners (NYSE DLNG) traded down 0.41% during midday trading on Tuesday, reaching $14.70. 107,901 shares of the company’s stock were exchanged. The firm has a market cap of $522.22 million, a PE ratio of 9.35 and a beta of 1.10. The stock’s 50-day moving average is $14.88 and its 200 day moving average is $16.00. Dynagas LNG Partners has a one year low of $12.76 and a one year high of $17.93.
Dynagas LNG Partners (NYSE:DLNG) last released its quarterly earnings data on Thursday, June 8th. The shipping company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Dynagas LNG Partners had a net margin of 37.68% and a return on equity of 23.74%. The company had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $40.38 million. Analysts anticipate that Dynagas LNG Partners will post $1.02 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its stake in Dynagas LNG Partners by 21.4% in the first quarter. Royal Bank of Canada now owns 11,362 shares of the shipping company’s stock worth $130,000 after buying an additional 2,005 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Dynagas LNG Partners during the second quarter valued at $238,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of Dynagas LNG Partners during the first quarter valued at $182,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Dynagas LNG Partners during the second quarter valued at $367,000. Finally, Pointe Capital Management LLC acquired a new stake in shares of Dynagas LNG Partners during the first quarter valued at $526,000. 21.73% of the stock is currently owned by institutional investors and hedge funds.
Dynagas LNG Partners Company Profile
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
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