Brokerages expect Teekay Lng Partners, L.P. (NYSE:TGP) to announce $137.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Teekay Lng Partners’ earnings, with the highest sales estimate coming in at $142.80 million and the lowest estimate coming in at $132.75 million. Teekay Lng Partners reported sales of $122.00 million in the same quarter last year, which indicates a positive year over year growth rate of 12.4%. The company is expected to issue its next earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Teekay Lng Partners will report full year sales of $483.21 million for the current financial year, with estimates ranging from $468.60 million to $503.80 million. For the next year, analysts forecast that the business will report sales of $585.26 million, with estimates ranging from $540.67 million to $617.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings data on Thursday, November 15th. The shipping company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.18). The firm had revenue of $115.38 million for the quarter, compared to analyst estimates of $125.21 million. Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%.
A number of analysts have weighed in on TGP shares. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Teekay Lng Partners in a research report on Tuesday, November 20th. Zacks Investment Research cut Teekay Lng Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Wells Fargo & Co reduced their price target on Teekay Lng Partners from $22.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, November 21st. ValuEngine raised Teekay Lng Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, TheStreet raised Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Monday, November 26th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Teekay Lng Partners currently has a consensus rating of “Hold” and a consensus target price of $17.75.
TGP opened at $13.09 on Friday. The firm has a market cap of $1.08 billion, a P/E ratio of 13.09 and a beta of 1.33. Teekay Lng Partners has a 1 year low of $12.19 and a 1 year high of $21.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.83.
The business also recently declared a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, November 2nd were given a $0.14 dividend. The ex-dividend date was Thursday, November 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.28%. Teekay Lng Partners’s dividend payout ratio is currently 56.00%.
Large investors have recently made changes to their positions in the business. Banco de Sabadell S.A increased its stake in shares of Teekay Lng Partners by 188.1% in the third quarter. Banco de Sabadell S.A now owns 6,914 shares of the shipping company’s stock worth $112,000 after purchasing an additional 4,514 shares during the period. LPL Financial LLC bought a new position in shares of Teekay Lng Partners in the third quarter worth about $218,000. Gator Capital Management LLC increased its stake in shares of Teekay Lng Partners by 17.0% in the third quarter. Gator Capital Management LLC now owns 55,030 shares of the shipping company’s stock worth $371,000 after purchasing an additional 8,000 shares during the period. Bank of Montreal Can bought a new position in shares of Teekay Lng Partners in the second quarter worth about $546,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Teekay Lng Partners in the second quarter worth about $608,000. 34.09% of the stock is owned by institutional investors.
Teekay Lng Partners Company Profile
Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
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