Hoegh LNG Partners LP (NASDAQ:HMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong 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. “

A number of other equities analysts have also recently commented on the company. Citigroup Inc. increased their target price on Hoegh LNG Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 25th. BidaskClub cut Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, September 14th. ValuEngine raised Hoegh LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays PLC raised Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $21.00 to $22.00 in a report on Tuesday, July 18th. Finally, TheStreet raised Hoegh LNG Partners from a “d” rating to a “c+” rating in a report on Monday, August 7th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. Hoegh LNG Partners has an average rating of “Buy” and an average target price of $21.63.

Shares of Hoegh LNG Partners (HMLP) remained flat at $19.40 during mid-day trading on Tuesday. 63,979 shares of the company were exchanged. The firm has a market capitalization of $638.65 million and a P/E ratio of 9.53. Hoegh LNG Partners has a 12-month low of $17.05 and a 12-month high of $20.65. The company’s 50 day moving average is $18.80 and its 200 day moving average is $19.07.

Hoegh LNG Partners (NASDAQ:HMLP) last announced its earnings results on Thursday, August 24th. The shipping company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Hoegh LNG Partners had a net margin of 34.87% and a return on equity of 13.48%. The firm had revenue of $35.02 million for the quarter, compared to analyst estimates of $31.94 million. On average, equities research analysts predict that Hoegh LNG Partners will post $1.45 earnings per share for the current year.

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Several large investors have recently bought and sold shares of the stock. Kayne Anderson Capital Advisors LP increased its holdings in shares of Hoegh LNG Partners by 1.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after purchasing an additional 43,400 shares during the last quarter. Oceanic Investment Management LTD increased its holdings in shares of Hoegh LNG Partners by 19.3% in the fourth quarter. Oceanic Investment Management LTD now owns 1,821,694 shares of the shipping company’s stock valued at $33,920,000 after purchasing an additional 295,022 shares during the last quarter. Fairview Capital Investment Management LLC acquired a new stake in shares of Hoegh LNG Partners in the fourth quarter valued at approximately $28,614,000. FMR LLC increased its holdings in shares of Hoegh LNG Partners by 2.5% in the second quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after purchasing an additional 35,806 shares during the last quarter. Finally, Whetstone Capital Advisors LLC increased its holdings in shares of Hoegh LNG Partners by 0.5% in the fourth quarter. Whetstone Capital Advisors LLC now owns 596,723 shares of the shipping company’s stock valued at $11,111,000 after purchasing an additional 2,718 shares during the last quarter.

Hoegh LNG Partners Company Profile

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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