Teekay LNG Partners (TGP) Price Target Increased to $19.00 by Analysts at Morgan Stanley

Teekay LNG Partners (NYSE:TGP) had its target price raised by research analysts at Morgan Stanley from $15.00 to $19.00 in a report released on Monday. The brokerage currently has an “equal weight” rating on the shipping company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 0.21% from the company’s current price.

TGP has been the topic of several other reports. Zacks Investment Research cut shares of Teekay LNG Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 14th. Jefferies Group started coverage on shares of Teekay LNG Partners in a research note on Monday, December 18th. They issued a “hold” rating and a $18.00 target price on the stock. ValuEngine upgraded shares of Teekay LNG Partners from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, UBS Group dropped 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.20.

Teekay LNG Partners (NYSE TGP) traded up $0.61 during trading hours on Monday, hitting $18.96. 26,870 shares of the stock traded hands, compared to its average volume of 222,761. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1,461.15, a P/E ratio of 23.12 and a beta of 1.17. Teekay LNG Partners has a one year low of $14.05 and a one year high of $21.65.

Teekay LNG Partners (NYSE:TGP) last released its quarterly earnings results on Thursday, November 9th. The shipping company reported $0.23 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $102.10 million. equities research analysts predict that Teekay LNG Partners will post 1.05 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in Teekay LNG Partners by 63.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,205,542 shares of the shipping company’s stock worth $38,707,000 after acquiring an additional 857,458 shares during the period. Morgan Stanley increased its holdings in Teekay LNG Partners by 112.9% during the 4th quarter. Morgan Stanley now owns 1,490,911 shares of the shipping company’s stock worth $19,606,000 after acquiring an additional 790,641 shares during the period. ING Groep NV bought a new stake in Teekay LNG Partners during the 3rd quarter worth approximately $10,217,000. Icon Advisers Inc. Co. bought a new stake in Teekay LNG Partners during the 1st quarter worth approximately $5,664,000. Finally, Toronto Dominion Bank increased its holdings in Teekay LNG Partners by 103.7% during the 3rd quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock worth $256,000 after acquiring an additional 403,411 shares during the period. Institutional investors own 35.57% of the company’s stock.

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Teekay LNG Partners Company Profile

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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