Dynagas LNG Partners LP (DLNG) Expected to Post Quarterly Sales of $33.70 Million
Equities research analysts expect Dynagas LNG Partners LP (NYSE:DLNG) to report $33.70 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Dynagas LNG Partners’ earnings. The lowest sales estimate is $33.65 million and the highest is $33.74 million. Dynagas LNG Partners posted sales of $42.64 million during the same quarter last year, which suggests a negative year over year growth rate of 21%. The firm is expected to report its next earnings results on Thursday, August 10th.
On average, analysts expect that Dynagas LNG Partners will report full-year sales of $33.70 million for the current fiscal year, with estimates ranging from $143.45 million to $153.45 million. For the next fiscal year, analysts forecast that the company will report sales of $155.05 million per share, with estimates ranging from $142.34 million to $161.41 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Dynagas LNG Partners.
Dynagas LNG Partners (NYSE:DLNG) last issued its earnings results on Thursday, June 8th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The company had revenue of $39.09 million for the quarter, compared to analyst estimates of $40.38 million. Dynagas LNG Partners had a net margin of 37.68% and a return on equity of 23.74%.
DLNG has been the topic of several analyst reports. Zacks Investment Research upgraded Dynagas LNG Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday. Maxim Group set a $20.00 target price on Dynagas LNG Partners and gave the company a “buy” rating in a report on Thursday, June 8th. Stifel Nicolaus upped their target price on Dynagas LNG Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $19.00 target price on shares of Dynagas LNG Partners in a report on Monday, June 12th. Finally, Morgan Stanley reduced their target price on Dynagas LNG Partners to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Dynagas LNG Partners has an average rating of “Hold” and an average target price of $16.25.
Dynagas LNG Partners (DLNG) opened at 14.70 on Wednesday. Dynagas LNG Partners has a 52 week low of $12.76 and a 52 week high of $17.93. The stock has a 50 day moving average of $14.88 and a 200 day moving average of $16.00. The company has a market cap of $522.22 million, a price-to-earnings ratio of 9.35 and a beta of 1.10.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Tuesday, July 11th were paid a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 11.50%. The ex-dividend date of this dividend was Friday, July 7th. Dynagas LNG Partners’s dividend payout ratio (DPR) is presently 106.96%.
A number of institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Dynagas LNG Partners during the second quarter valued at about $367,000. Marshall Wace North America L.P. acquired a new position in shares of Dynagas LNG Partners during the second quarter valued at about $238,000. Proficio Capital Partners LLC raised its position in shares of Dynagas LNG Partners by 48.5% in the second quarter. Proficio Capital Partners LLC now owns 73,050 shares of the shipping company’s stock valued at $1,075,000 after buying an additional 23,850 shares during the period. Clearbridge Investments LLC raised its position in shares of Dynagas LNG Partners by 16.3% in the first quarter. Clearbridge Investments LLC now owns 1,469,530 shares of the shipping company’s stock valued at $25,893,000 after buying an additional 205,730 shares during the period. Finally, Pointe Capital Management LLC acquired a new position in shares of Dynagas LNG Partners during the first quarter valued at about $526,000. 21.73% of the stock is currently owned by hedge funds and other institutional investors.
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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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