California Public Employees Retirement System lowered its stake in Hoegh LNG Partners LP (NYSE:HMLP) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,835 shares of the shipping company’s stock after selling 7,365 shares during the quarter. California Public Employees Retirement System owned about 0.33% of Hoegh LNG Partners worth $1,972,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Bard Associates Inc. lifted its holdings in Hoegh LNG Partners by 14.0% in the second quarter. Bard Associates Inc. now owns 25,498 shares of the shipping company’s stock worth $458,000 after purchasing an additional 3,135 shares during the period. Bridgeworth LLC acquired a new stake in Hoegh LNG Partners in the second quarter worth about $148,000. Commonwealth Equity Services LLC acquired a new stake in Hoegh LNG Partners in the first quarter worth about $194,000. FMR LLC lifted its holdings in Hoegh LNG Partners by 1.8% in the second quarter. FMR LLC now owns 1,975,906 shares of the shipping company’s stock worth $35,468,000 after purchasing an additional 34,900 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Hoegh LNG Partners by 44.6% in the second quarter. Renaissance Technologies LLC now owns 476,500 shares of the shipping company’s stock worth $8,553,000 after purchasing an additional 147,000 shares during the period. 27.02% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE HMLP opened at $17.81 on Thursday. Hoegh LNG Partners LP has a twelve month low of $15.32 and a twelve month high of $19.85. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a market capitalization of $585.26 million, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92.
Hoegh LNG Partners (NYSE:HMLP) last issued its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.13. Hoegh LNG Partners had a net margin of 46.62% and a return on equity of 14.66%. The company had revenue of $36.61 million during the quarter, compared to the consensus estimate of $36.19 million. During the same period in the prior year, the company earned $0.30 EPS. Hoegh LNG Partners’s revenue was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Hoegh LNG Partners LP will post 1.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 9.88%. The ex-dividend date of this dividend is Wednesday, October 31st. Hoegh LNG Partners’s payout ratio is 129.41%.
HMLP has been the subject of several research analyst reports. ValuEngine raised shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a report on Monday, October 8th. BTIG Research initiated coverage on shares of Hoegh LNG Partners in a report on Wednesday, July 18th. They issued a “neutral” rating for the company. Berenberg Bank initiated coverage on shares of Hoegh LNG Partners in a report on Thursday, September 6th. They issued a “hold” rating and a $19.00 price objective for the company. B. Riley initiated coverage on shares of Hoegh LNG Partners in a report on Wednesday, September 5th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Zacks Investment Research raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Wednesday, October 10th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Hoegh LNG Partners presently has a consensus rating of “Hold” and an average target price of $19.83.
Hoegh LNG Partners Company Profile
Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.
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