GasLog Partners LP (GLOP) Cut to “Hold” at Zacks Investment Research
GasLog Partners LP (NYSE:GLOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “
GLOP has been the topic of several other research reports. BidaskClub downgraded shares of GasLog Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. ValuEngine downgraded shares of GasLog Partners from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 target price on shares of GasLog Partners in a report on Tuesday, July 4th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. GasLog Partners has a consensus rating of “Buy” and an average target price of $26.00.
Shares of GasLog Partners (GLOP) traded up 1.07% during mid-day trading on Thursday, reaching $23.55. The company’s stock had a trading volume of 65,859 shares. The firm has a market capitalization of $929.38 million, a PE ratio of 11.80 and a beta of 1.67. GasLog Partners has a 52 week low of $19.10 and a 52 week high of $25.45. The firm has a 50-day moving average of $23.07 and a 200-day moving average of $23.33.
GasLog Partners (NYSE:GLOP) last released its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.11). The business had revenue of $65.27 million for the quarter, compared to the consensus estimate of $61.86 million. GasLog Partners had a net margin of 35.43% and a return on equity of 12.06%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. Equities research analysts forecast that GasLog Partners will post $2.21 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of GLOP. FMR LLC increased its holdings in shares of GasLog Partners by 82.8% during the 1st quarter. FMR LLC now owns 2,047,700 shares of the shipping company’s stock worth $50,169,000 after purchasing an additional 927,600 shares during the period. JPMorgan Chase & Co. boosted its position in shares of GasLog Partners by 43,473.4% during the 1st quarter. JPMorgan Chase & Co. now owns 458,828 shares of the shipping company’s stock valued at $11,242,000 after acquiring an additional 457,775 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of GasLog Partners by 51.2% during the 2nd quarter. Global X Management Co. LLC now owns 549,001 shares of the shipping company’s stock valued at $12,435,000 after acquiring an additional 185,941 shares in the last quarter. Cannell Peter B & Co. Inc. boosted its position in shares of GasLog Partners by 103.4% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 290,750 shares of the shipping company’s stock valued at $6,585,000 after acquiring an additional 147,775 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new stake in shares of GasLog Partners during the 2nd quarter valued at about $3,048,000. Institutional investors own 39.84% of the company’s stock.
GasLog Partners Company Profile
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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