Traders Purchase Large Volume of Put Options on Teekay LNG Partners (TGP)

Teekay LNG Partners L.P. (NYSE:TGP) saw unusually large options trading activity on Thursday. Stock traders bought 2,045 put options on the company. This represents an increase of approximately 1,330% compared to the average volume of 143 put options.

Shares of Teekay LNG Partners (TGP) opened at $20.30 on Friday. Teekay LNG Partners has a one year low of $14.05 and a one year high of $21.65. The company has a market cap of $1,620.00, a P/E ratio of 24.46 and a beta of 1.27. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.22.

Teekay LNG Partners (NYSE:TGP) last released its earnings results on Thursday, November 9th. The shipping company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.10). Teekay LNG Partners had a return on equity of 5.39% and a net margin of 20.99%. The firm had revenue of $102.82 million for the quarter, compared to the consensus estimate of $102.10 million. equities analysts forecast that Teekay LNG Partners will post 1.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Thursday, February 1st. Teekay LNG Partners’s dividend payout ratio (DPR) is currently 67.47%.

TGP has been the topic of a number of recent analyst reports. UBS Group decreased their target price on shares of Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, November 10th. ValuEngine upgraded shares of Teekay LNG Partners from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Jefferies Group initiated coverage on shares of Teekay LNG Partners in a research note on Monday, December 18th. They set a “hold” rating and a $18.00 target price on the stock. Zacks Investment Research cut shares of Teekay LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus restated a “hold” rating and set a $16.00 target price on shares of Teekay LNG Partners in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Teekay LNG Partners has an average rating of “Hold” and a consensus price target of $18.00.

A number of institutional investors and hedge funds have recently made changes to their positions in TGP. Alliancebernstein L.P. grew its holdings in Teekay LNG Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock valued at $205,000 after buying an additional 746 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Teekay LNG Partners during the 2nd quarter valued at approximately $249,000. CNH Partners LLC grew its holdings in Teekay LNG Partners by 1.0% during the 2nd quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock valued at $315,000 after buying an additional 200 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Teekay LNG Partners by 30.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 37,855 shares of the shipping company’s stock valued at $581,000 after buying an additional 8,794 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Teekay LNG Partners during the 2nd quarter valued at approximately $1,073,000. 36.04% of the stock is owned by institutional investors and hedge funds.

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About Teekay LNG Partners

Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.

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