Hoegh LNG Partners LP (NASDAQ:HMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “

HMLP has been the subject of a number of other reports. BidaskClub cut shares of Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 14th. ValuEngine raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Citigroup Inc. raised their price objective on shares of Hoegh LNG Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. TheStreet raised shares of Hoegh LNG Partners from a “d” rating to a “c+” rating in a research note on Monday, August 7th. Finally, Barclays PLC raised shares of Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Hoegh LNG Partners has a consensus rating of “Buy” and an average target price of $21.63.

Shares of Hoegh LNG Partners (NASDAQ HMLP) remained flat at $19.20 on Tuesday. The company had a trading volume of 93,653 shares. The stock has a market cap of $632.06 million and a PE ratio of 9.43. Hoegh LNG Partners has a 1-year low of $17.05 and a 1-year high of $20.65. The stock’s 50 day moving average price is $18.66 and its 200 day moving average price is $19.09.

Hoegh LNG Partners (NASDAQ:HMLP) last issued its quarterly earnings data on Thursday, August 24th. The shipping company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). Hoegh LNG Partners had a return on equity of 13.48% and a net margin of 34.87%. The business had revenue of $35.02 million for the quarter, compared to analysts’ expectations of $31.94 million. Equities research analysts expect that Hoegh LNG Partners will post $1.46 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in HMLP. Stifel Financial Corp bought a new stake in shares of Hoegh LNG Partners in the 1st quarter worth approximately $354,000. UBS Group AG raised its holdings in shares of Hoegh LNG Partners by 27.1% in the 1st quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock worth $182,000 after purchasing an additional 1,978 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Hoegh LNG Partners by 70.0% in the 1st quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock worth $2,203,000 after purchasing an additional 46,140 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Hoegh LNG Partners by 179.6% in the 1st quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock worth $2,135,000 after purchasing an additional 69,793 shares in the last quarter. Finally, Green Square Capital LLC raised its holdings in shares of Hoegh LNG Partners by 204.6% in the 1st quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock worth $1,462,000 after purchasing an additional 49,983 shares in the last quarter.

About Hoegh LNG Partners

Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.

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Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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