Golar LNG Partners LP (GMLP) Given a $23.00 Price Target at Stifel Nicolaus
Golar LNG Partners LP (NASDAQ:GMLP) has been given a $23.00 price objective by stock analysts at Stifel Nicolaus in a research report issued on Thursday. The brokerage currently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 15.00% from the stock’s previous close.
GMLP has been the topic of several other research reports. Zacks Investment Research lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. BidaskClub raised Golar LNG Partners from a “strong sell” rating to a “sell” rating in a report on Sunday, June 18th. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price objective on shares of Golar LNG Partners in a report on Monday, June 12th. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 target price (down from $24.00) on shares of Golar LNG Partners in a report on Tuesday, June 13th. Finally, Seaport Global Securities reaffirmed a “neutral” rating and set a $22.00 target price on shares of Golar LNG Partners in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $23.25.
Shares of Golar LNG Partners (GMLP) traded down 0.05% on Thursday, reaching $20.00. The company’s stock had a trading volume of 263,430 shares. Golar LNG Partners has a 1-year low of $18.13 and a 1-year high of $25.82. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 7.20 and a beta of 0.93. The company’s 50 day moving average is $20.99 and its 200-day moving average is $21.67.
Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Wednesday, May 31st. The shipping company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by $0.11. The firm had revenue of $101.39 million for the quarter, compared to the consensus estimate of $100.79 million. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. Equities research analysts expect that Golar LNG Partners will post $2.29 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of GMLP. Sippican Capital Advisors increased its position in Golar LNG Partners by 2.2% in the first quarter. Sippican Capital Advisors now owns 25,556 shares of the shipping company’s stock valued at $571,000 after buying an additional 556 shares during the last quarter. Waldron LP purchased a new position in Golar LNG Partners during the first quarter valued at $893,000. Tocqueville Asset Management L.P. boosted its position in Golar LNG Partners by 86.7% in the first quarter. Tocqueville Asset Management L.P. now owns 129,178 shares of the shipping company’s stock valued at $2,886,000 after buying an additional 60,000 shares during the last quarter. Searle & CO. boosted its position in Golar LNG Partners by 74.1% in the first quarter. Searle & CO. now owns 25,835 shares of the shipping company’s stock valued at $577,000 after buying an additional 11,000 shares during the last quarter. Finally, HITE Hedge Asset Management LLC purchased a new position in Golar LNG Partners during the first quarter valued at $13,755,000. Institutional investors and hedge funds own 77.02% of the company’s stock.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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