Golar LNG Partners LP (GMLP) Given Average Rating of “Hold” by Brokerages

Golar LNG Partners LP (NASDAQ:GMLP) has received an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $21.25.

A number of equities analysts have issued reports on GMLP shares. BidaskClub raised shares of Golar LNG Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 24th. B. Riley started coverage on shares of Golar LNG Partners in a research report on Thursday, May 17th. They set a “hold” rating and a $23.00 price target for the company. Zacks Investment Research lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. ValuEngine lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Finally, Bank of America lowered shares of Golar LNG Partners from a “buy” rating to an “underperform” rating in a research report on Friday, June 1st.

Golar LNG Partners opened at $15.84 on Tuesday, according to Marketbeat.com. Golar LNG Partners has a 12-month low of $14.27 and a 12-month high of $23.46. The company has a quick ratio of 1.71, a current ratio of 1.73 and a debt-to-equity ratio of 1.93. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 1.61 and a beta of 0.87.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Thursday, May 31st. The shipping company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12. Golar LNG Partners had a net margin of 29.68% and a return on equity of 16.74%. The company had revenue of $74.21 million during the quarter, compared to analyst estimates of $77.64 million. analysts expect that Golar LNG Partners will post 1.22 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Golar LNG Partners by 21.0% during the 1st quarter. JPMorgan Chase & Co. now owns 965,708 shares of the shipping company’s stock worth $16,523,000 after purchasing an additional 167,615 shares during the period. California Public Employees Retirement System grew its stake in shares of Golar LNG Partners by 1.8% during the 4th quarter. California Public Employees Retirement System now owns 154,810 shares of the shipping company’s stock worth $3,530,000 after purchasing an additional 2,679 shares during the period. State of New Jersey Common Pension Fund D grew its stake in shares of Golar LNG Partners by 126.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 154,800 shares of the shipping company’s stock worth $2,649,000 after purchasing an additional 86,400 shares during the period. BlackRock Inc. grew its stake in shares of Golar LNG Partners by 67.1% during the 4th quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock worth $3,434,000 after purchasing an additional 60,476 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Golar LNG Partners by 2.1% during the 4th quarter. Wells Fargo & Company MN now owns 130,671 shares of the shipping company’s stock worth $2,978,000 after purchasing an additional 2,631 shares during the period. 41.49% of the stock is currently owned by institutional investors and hedge funds.

About Golar LNG Partners

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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