Golar LNG Partners LP (GMLP) Releases Earnings Results, Beats Expectations By $0.12 EPS
Golar LNG Partners LP (NASDAQ:GMLP) posted its earnings results on Wednesday. The shipping company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.12, reports. Golar LNG Partners had a net margin of 40.50% and a return on equity of 28.97%.
Shares of Golar LNG Partners (NASDAQ:GMLP) traded up 0.29% during mid-day trading on Wednesday, reaching $20.81. 64,481 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $20.92 and a 200 day moving average price of $21.47. Golar LNG Partners has a 12-month low of $18.13 and a 12-month high of $25.82. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 7.49 and a beta of 0.93.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were issued a $0.5775 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $2.31 annualized dividend and a yield of 11.13%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 82.21%.
GMLP has been the subject of a number of analyst reports. ValuEngine lowered shares of Golar LNG Partners from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 target price on shares of Golar LNG Partners in a report on Monday, June 12th. BidaskClub upgraded shares of Golar LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Morgan Stanley reiterated 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, Stifel Nicolaus set a $23.00 target price on shares of Golar LNG Partners and gave the stock a “hold” rating in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Golar LNG Partners has an average rating of “Hold” and a consensus price target of $23.25.
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About Golar LNG Partners
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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