Shares of Teekay Lng Partners, L.P. (NYSE:TGP) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $17.70.
TGP has been the subject of a number of research reports. Zacks Investment Research cut shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Deutsche Bank initiated coverage on shares of Teekay Lng Partners in a research report on Wednesday, October 10th. They issued a “hold” rating and a $17.00 price target for the company. ValuEngine raised shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research report on Saturday, October 27th. Wells Fargo & Co reduced their price target on shares of 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. Finally, Stifel Nicolaus raised shares of Teekay Lng Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, November 28th.
Shares of TGP opened at $12.25 on Friday. Teekay Lng Partners has a 1-year low of $10.74 and a 1-year high of $21.65. The firm has a market capitalization of $1.02 billion, a P/E ratio of 12.25 and a beta of 1.40. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.72 and a quick ratio of 0.72.
Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, November 15th. The shipping company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.18). Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%. The company had revenue of $115.38 million during the quarter, compared to analysts’ expectations of $125.21 million. As a group, sell-side analysts predict that Teekay Lng Partners will post 0.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, February 1st will be issued a $0.14 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.57%. Teekay Lng Partners’s payout ratio is 56.00%.
Several large investors have recently made changes to their positions in the company. Pinnacle Holdings LLC raised its holdings in shares of Teekay Lng Partners by 2.6% in the third quarter. Pinnacle Holdings LLC now owns 152,372 shares of the shipping company’s stock valued at $2,545,000 after buying an additional 3,888 shares during the last quarter. Banco de Sabadell S.A raised its holdings in Teekay Lng Partners by 188.1% during 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 in the last quarter. California Public Employees Retirement System raised its holdings in Teekay Lng Partners by 8.0% during the second quarter. California Public Employees Retirement System now owns 62,621 shares of the shipping company’s stock worth $1,055,000 after purchasing an additional 4,660 shares in the last quarter. Gator Capital Management LLC raised its holdings in Teekay Lng Partners by 17.0% during 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 in the last quarter. Finally, LPL Financial LLC purchased a new position in Teekay Lng Partners during the third quarter worth about $218,000. 34.09% of the stock is owned by institutional investors and hedge funds.
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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