GasLog Partners LP (GLOP) Price Target Cut to $25.00
GasLog Partners LP (NYSE:GLOP) had its price objective lowered by investment analysts at Barclays PLC from $26.00 to $25.00 in a note issued to investors on Friday. The brokerage presently has an “equal weight” rating on the shipping company’s stock. Barclays PLC’s target price indicates a potential upside of 3.95% from the company’s current price.
Other equities analysts also recently issued reports about the company. BidaskClub downgraded GasLog Partners from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded GasLog Partners from a “buy” rating to a “hold” rating in a research report on Thursday, October 12th. Stifel Nicolaus reiterated a “buy” rating and set a $27.00 target price on shares of GasLog Partners in a research report on Friday, October 13th. Jefferies Group LLC reiterated a “buy” rating and set a $28.00 target price on shares of GasLog Partners in a research report on Tuesday, July 4th. Finally, ValuEngine downgraded GasLog Partners from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $26.40.
Shares of GasLog Partners (NYSE:GLOP) traded up 1.69% on Friday, hitting $24.05. The stock had a trading volume of 177,098 shares. The stock has a 50 day moving average of $23.18 and a 200-day moving average of $23.30. The stock has a market cap of $949.11 million, a PE ratio of 12.06 and a beta of 1.67. GasLog Partners has a 12 month low of $19.10 and a 12 month high of $25.45.
GasLog Partners (NYSE:GLOP) last released its earnings results on Thursday, October 26th. The shipping company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.02). The company had revenue of $73.40 million for the quarter, compared to analysts’ expectations of $72.11 million. GasLog Partners had a net margin of 34.89% and a return on equity of 12.73%. GasLog Partners’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. Equities research analysts anticipate that GasLog Partners will post $2.19 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of GasLog Partners by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 323 shares in the last quarter. People s United Financial Inc. purchased a new position in shares of GasLog Partners in the second quarter valued at about $227,000. Meridian Wealth Management LLC purchased a new position in shares of GasLog Partners in the second quarter valued at about $252,000. Moors & Cabot Inc. lifted its position in shares of GasLog Partners by 19.4% in the second quarter. Moors & Cabot Inc. now owns 11,482 shares of the shipping company’s stock valued at $259,000 after acquiring an additional 1,868 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of GasLog Partners in the first quarter valued at about $265,000. Institutional investors and hedge funds 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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