Cushing Asset Management LP lessened its position in shares of GasLog Partners LP (NYSE:GLOP) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 979,764 shares of the shipping company’s stock after selling 167,424 shares during the quarter. Cushing Asset Management LP owned about 2.39% of GasLog Partners worth $24,249,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of GasLog Partners by 5.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock valued at $132,000 after buying an additional 323 shares during the period. Essex Financial Services Inc. purchased a new stake in GasLog Partners in the fourth quarter valued at approximately $208,000. Arrowstreet Capital Limited Partnership purchased a new stake in GasLog Partners in the fourth quarter valued at approximately $233,000. Deutsche Bank AG raised its position in GasLog Partners by 1,209.7% in the fourth quarter. Deutsche Bank AG now owns 24,884 shares of the shipping company’s stock valued at $615,000 after purchasing an additional 22,984 shares during the period. Finally, Raymond James & Associates grew its stake in shares of GasLog Partners by 9.6% in the fourth quarter. Raymond James & Associates now owns 26,155 shares of the shipping company’s stock worth $647,000 after acquiring an additional 2,300 shares in the last quarter. 41.23% of the stock is currently owned by hedge funds and other institutional investors.
GasLog Partners LP (NYSE GLOP) opened at $24.30 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.00 and a current ratio of 1.02. The company has a market cap of $969.70, a price-to-earnings ratio of 11.63 and a beta of 1.35. GasLog Partners LP has a 12 month low of $21.80 and a 12 month high of $25.55.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Friday, February 9th were paid a $0.5235 dividend. This represents a $2.09 annualized dividend and a yield of 8.62%. The ex-dividend date was Thursday, February 8th. This is an increase from GasLog Partners’s previous quarterly dividend of $0.52. GasLog Partners’s dividend payout ratio is currently 100.00%.
Several equities analysts have commented on GLOP shares. Zacks Investment Research downgraded shares of GasLog Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. ValuEngine upgraded shares of GasLog Partners from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, Jefferies Group started coverage on shares of GasLog Partners in a research note on Monday, December 18th. They set a “buy” rating and a $28.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. GasLog Partners has a consensus rating of “Buy” and a consensus price target of $26.40.
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GasLog Partners Profile
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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