Shares of Teekay Lng Partners, L.P. (NYSE:TGP) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $17.00.
A number of research analysts recently weighed in on TGP shares. ValuEngine downgraded shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 22nd. TheStreet raised shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of Teekay Lng Partners from a “buy” rating to a “hold” rating and set a $17.00 target price for the company. in a research report on Saturday, November 2nd.
Teekay Lng Partners stock traded down $0.06 during mid-day trading on Friday, reaching $13.87. The company’s stock had a trading volume of 514 shares, compared to its average volume of 334,726. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 18.19 and a beta of 1.53. Teekay Lng Partners has a 12 month low of $10.74 and a 12 month high of $16.66. The business’s 50 day simple moving average is $14.38 and its 200 day simple moving average is $14.43. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.54 and a current ratio of 0.54.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Friday, November 1st will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, October 31st. Teekay Lng Partners’s dividend payout ratio is currently 100.00%.
A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. lifted its stake in Teekay Lng Partners by 2,014.5% in the second quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock valued at $29,529,000 after acquiring an additional 1,995,219 shares during the last quarter. Beach Investment Counsel Inc. PA lifted its stake in shares of Teekay Lng Partners by 2.3% during the 2nd quarter. Beach Investment Counsel Inc. PA now owns 1,264,611 shares of the shipping company’s stock worth $17,831,000 after buying an additional 28,064 shares during the last quarter. Morgan Stanley lifted its stake in shares of Teekay Lng Partners by 37.0% during the 2nd quarter. Morgan Stanley now owns 356,705 shares of the shipping company’s stock worth $5,030,000 after buying an additional 96,278 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Teekay Lng Partners by 121.8% during the 2nd quarter. Bank of Montreal Can now owns 241,270 shares of the shipping company’s stock worth $3,402,000 after buying an additional 132,500 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Teekay Lng Partners by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 229,114 shares of the shipping company’s stock worth $3,231,000 after buying an additional 5,095 shares during the last quarter. Hedge funds and other institutional investors own 29.23% of the company’s stock.
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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