GasLog Partners LP (GLOP) Given Average Recommendation of “Hold” by Analysts
GasLog Partners LP (NYSE:GLOP) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.50.
Several analysts have recently weighed in on the company. BidaskClub downgraded GasLog Partners from a “hold” rating to a “sell” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded GasLog Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Barclays PLC lowered their target price on GasLog Partners from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, October 27th. ValuEngine downgraded GasLog Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $27.00 price target on shares of GasLog Partners in a research note on Friday, October 13th.
Large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in 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 worth $132,000 after purchasing an additional 323 shares in the last quarter. People s United Financial Inc. acquired a new position in GasLog Partners in the second quarter valued at approximately $227,000. Csenge Advisory Group acquired a new position in GasLog Partners in the third quarter valued at approximately $251,000. Meridian Wealth Management LLC acquired a new position in GasLog Partners in the second quarter valued at approximately $252,000. Finally, Moors & Cabot Inc. boosted its stake in 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 during the period. Institutional investors and hedge funds own 39.84% of the company’s stock.
GasLog Partners (NYSE:GLOP) last announced its earnings results on Thursday, October 26th. The shipping company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $73.40 million for the quarter, compared to analyst estimates of $72.11 million. GasLog Partners had a net margin of 34.89% and a return on equity of 12.44%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Monday, November 6th will be paid a $0.5175 dividend. This represents a $2.07 dividend on an annualized basis and a yield of 8.72%. This is an increase from GasLog Partners’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, November 3rd. GasLog Partners’s dividend payout ratio (DPR) is 95.33%.
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About GasLog Partners
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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