Golar LNG Partners (NASDAQ:GMLP) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Thursday, Briefing.com reports. They presently have a $3.55 target price on the shipping company’s stock, down from their prior target price of $5.00. Stifel Nicolaus’ price target indicates a potential upside of 3.80% from the company’s current price.
A number of other research firms also recently issued reports on GMLP. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, December 2nd. Jefferies Financial Group reduced their price target on Golar LNG Partners from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Golar LNG Partners currently has an average rating of “Hold” and an average price target of $3.86.
GMLP stock opened at $3.42 on Thursday. The business’s 50-day moving average price is $2.67 and its two-hundred day moving average price is $2.50. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.41. The firm has a market cap of $237.01 million, a PE ratio of 9.24, a P/E/G ratio of 0.39 and a beta of 1.06. Golar LNG Partners has a 1-year low of $1.30 and a 1-year high of $8.75.
Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Golar LNG Partners by 164.8% in the second quarter. Goldman Sachs Group Inc. now owns 228,329 shares of the shipping company’s stock valued at $589,000 after buying an additional 142,100 shares during the period. Baldwin Brothers Inc. MA boosted its stake in shares of Golar LNG Partners by 9.8% in the third quarter. Baldwin Brothers Inc. MA now owns 56,100 shares of the shipping company’s stock valued at $114,000 after buying an additional 5,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Golar LNG Partners in the third quarter valued at approximately $63,000. Acadian Asset Management LLC bought a new stake in shares of Golar LNG Partners in the third quarter valued at approximately $41,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Golar LNG Partners in the second quarter valued at approximately $46,000. Institutional investors and hedge funds own 28.07% of the company’s stock.
Golar LNG Partners Company Profile
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, Jamaica, Kuwait, and the United Arab Emirates. As of April 16, 2020, it had a fleet of six FSRUs and four LNG carriers.
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