Tocqueville Asset Management L.P. decreased its holdings in shares of Golar LNG Partners LP (NASDAQ:GMLP) by 52.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,548 shares of the shipping company’s stock after selling 60,000 shares during the quarter. Tocqueville Asset Management L.P. owned about 0.08% of Golar LNG Partners worth $1,244,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. BNP Paribas Arbitrage SA acquired a new position in Golar LNG Partners in the third quarter valued at $108,000. SeaCrest Wealth Management LLC acquired a new position in shares of Golar LNG Partners during the fourth quarter worth about $107,000. Cetera Advisors LLC acquired a new position in shares of Golar LNG Partners during the fourth quarter worth about $201,000. Alliancebernstein L.P. lifted its stake in shares of Golar LNG Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after purchasing an additional 572 shares in the last quarter. Finally, Koch Industries Inc. acquired a new position in shares of Golar LNG Partners during the fourth quarter worth about $239,000. Institutional investors and hedge funds own 44.01% of the company’s stock.
A number of brokerages have commented on GMLP. Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub cut Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 7th. Bank of America reduced their price objective on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, March 5th. Seaport Global Securities restated a “hold” rating and set a $21.00 price objective on shares of Golar LNG Partners in a research note on Tuesday, February 27th. Finally, ValuEngine cut Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.60.
Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Monday, December 11th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%. The business had revenue of $105.64 million for the quarter, compared to analysts’ expectations of $96.00 million. research analysts predict that Golar LNG Partners LP will post 1.16 EPS for the current year.
Golar LNG Partners announced that its Board of Directors has initiated a share buyback program on Monday, March 5th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the shipping company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 12.11%. The ex-dividend date of this dividend was Tuesday, February 6th. Golar LNG Partners’s payout ratio is 123.53%.
Golar LNG Partners Company Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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