Morgan Stanley Trims Hoegh LNG Partners (HMLP) Target Price to $20.00

Hoegh LNG Partners (NYSE:HMLP) had its target price reduced by investment analysts at Morgan Stanley from $20.50 to $20.00 in a report issued on Monday. The firm currently has an “overweight” rating on the shipping company’s stock. Morgan Stanley’s price target would suggest a potential upside of 11.30% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Hoegh LNG Partners from a “strong sell” rating to a “hold” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Hoegh LNG Partners has an average rating of “Hold” and a consensus price target of $21.33.

Shares of Hoegh LNG Partners (NYSE HMLP) traded up $0.72 during trading hours on Monday, hitting $17.97. 110,374 shares of the company were exchanged, compared to its average volume of 94,306. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $341.08, a price-to-earnings ratio of 11.21, a PEG ratio of 0.63 and a beta of 0.88. Hoegh LNG Partners has a fifty-two week low of $16.75 and a fifty-two week high of $20.65.

Hoegh LNG Partners (NYSE:HMLP) last issued its quarterly earnings results on Thursday, November 16th. The shipping company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.28). Hoegh LNG Partners had a return on equity of 7.77% and a net margin of 38.90%. analysts forecast that Hoegh LNG Partners will post 1.16 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of Hoegh LNG Partners by 2.5% during the second quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after acquiring an additional 35,806 shares during the period. Stifel Financial Corp boosted its holdings in shares of Hoegh LNG Partners by 3.3% during the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after acquiring an additional 591 shares during the period. Taylor Frigon Capital Management LLC acquired a new position in shares of Hoegh LNG Partners during the fourth quarter valued at $1,016,000. FNY Partners Fund LP acquired a new position in shares of Hoegh LNG Partners during the fourth quarter valued at $214,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Hoegh LNG Partners during the fourth quarter valued at $475,000. 64.57% of the stock is owned by hedge funds and other institutional investors.

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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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