$35.98 Million in Sales Expected for Dynagas LNG Partners LP (DLNG) This Quarter
Brokerages predict that Dynagas LNG Partners LP (NYSE:DLNG) will report sales of $35.98 million for the current quarter, Zacks reports. Three analysts have made estimates for Dynagas LNG Partners’ earnings. The highest sales estimate is $37.70 million and the lowest is $34.94 million. Dynagas LNG Partners reported sales of $43.09 million during the same quarter last year, which would suggest a negative year over year growth rate of 16.5%. The company is scheduled to announce its next earnings results on Monday, November 13th.
On average, analysts expect that Dynagas LNG Partners will report full-year sales of $35.98 million for the current fiscal year, with estimates ranging from $135.34 million to $146.50 million. For the next financial year, analysts forecast that the firm will report sales of $143.29 million per share, with estimates ranging from $127.40 million to $159.37 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Dynagas LNG Partners.
Dynagas LNG Partners (NYSE:DLNG) last issued its quarterly earnings results on Tuesday, September 5th. The shipping company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.10). Dynagas LNG Partners had a net margin of 26.03% and a return on equity of 19.22%. The firm had revenue of $31.98 million for the quarter, compared to the consensus estimate of $33.70 million.
Several brokerages recently issued reports on DLNG. Zacks Investment Research upgraded shares of Dynagas LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Dynagas LNG Partners from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Morgan Stanley cut their target price on shares of Dynagas LNG Partners to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 13th. Maxim Group set a $20.00 target price on shares of Dynagas LNG Partners and gave the company a “buy” rating in a research note on Thursday, June 8th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 target price on shares of Dynagas LNG Partners in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Dynagas LNG Partners presently has a consensus rating of “Hold” and an average price target of $15.92.
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Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. bought a new position in Dynagas LNG Partners in the 1st quarter valued at about $643,000. Goldman Sachs Group Inc. raised its holdings in Dynagas LNG Partners by 86.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 31,099 shares of the shipping company’s stock valued at $548,000 after acquiring an additional 14,378 shares during the period. Bank of America Corp DE raised its holdings in Dynagas LNG Partners by 10.4% in the 1st quarter. Bank of America Corp DE now owns 638,715 shares of the shipping company’s stock valued at $11,254,000 after acquiring an additional 60,224 shares during the period. Van ECK Associates Corp bought a new position in Dynagas LNG Partners in the 1st quarter valued at about $4,484,000. Finally, Proficio Capital Partners LLC raised its holdings in Dynagas LNG Partners by 48.5% in the 2nd quarter. Proficio Capital Partners LLC now owns 73,050 shares of the shipping company’s stock valued at $1,075,000 after acquiring an additional 23,850 shares during the period. 19.63% of the stock is currently owned by hedge funds and other institutional investors.
Dynagas LNG Partners (NYSE DLNG) opened at 13.19 on Friday. The company has a market capitalization of $468.57 million, a price-to-earnings ratio of 13.88 and a beta of 1.11. The company’s 50-day moving average price is $14.21 and its 200 day moving average price is $15.49. Dynagas LNG Partners has a 52 week low of $12.76 and a 52 week high of $17.93.
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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