Golar LNG Partners LP (NASDAQ:GMLP) has received a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $6.25.
A number of equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, June 3rd. ValuEngine downgraded Golar LNG Partners from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd.
Shares of Golar LNG Partners stock opened at $2.55 on Thursday. The business has a 50-day simple moving average of $2.64 and a 200-day simple moving average of $2.71. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.18 and a current ratio of 0.19. Golar LNG Partners has a one year low of $1.30 and a one year high of $10.72. The company has a market cap of $176.72 million, a PE ratio of 9.11, a P/E/G ratio of 0.47 and a beta of 0.96.
Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings results on Thursday, August 13th. The shipping company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.11. Golar LNG Partners had a net margin of 6.60% and a return on equity of 10.90%. The company had revenue of $69.76 million during the quarter, compared to the consensus estimate of $69.95 million. On average, sell-side analysts predict that Golar LNG Partners will post 0.68 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisor Group Holdings Inc. purchased a new position in Golar LNG Partners during the 1st quarter worth approximately $32,000. Searle & CO. acquired a new stake in shares of Golar LNG Partners in the first quarter valued at approximately $42,000. Commonwealth Equity Services LLC acquired a new stake in shares of Golar LNG Partners in the second quarter valued at approximately $46,000. Cresset Asset Management LLC purchased a new position in shares of Golar LNG Partners during the second quarter worth approximately $50,000. Finally, Baldwin Brothers Inc. MA increased its holdings in shares of Golar LNG Partners by 95.8% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 51,100 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 25,000 shares during the period. 28.17% of the stock is owned by hedge funds and other institutional investors.
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 March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
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