Teekay LNG Partners Target of Unusually High Options Trading (NYSE:TGP)

Teekay LNG Partners L.P. (NYSE:TGP) was the target of some unusual options trading on Wednesday. Investors bought 6,453 call options on the stock. This is an increase of approximately 2,148% compared to the typical volume of 287 call options.

Several brokerages recently commented on TGP. Zacks Investment Research cut Teekay LNG Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, November 9th. Jonestrading lowered Teekay LNG Partners from a “buy” rating to a “hold” rating in a report on Monday, October 4th. Stifel Nicolaus lowered Teekay LNG Partners from a “buy” rating to a “hold” rating and reduced their target price for the stock from $18.00 to $17.00 in a report on Tuesday, October 5th. Finally, B. Riley lowered Teekay LNG Partners from a “buy” rating to a “neutral” rating in a report on Monday, October 4th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.01.

Several hedge funds have recently modified their holdings of TGP. Glenmede Trust Co. NA raised its stake in shares of Teekay LNG Partners by 53.1% in the second quarter. Glenmede Trust Co. NA now owns 109,613 shares of the shipping company’s stock valued at $1,654,000 after purchasing an additional 38,000 shares in the last quarter. Sanders Morris Harris LLC grew its position in Teekay LNG Partners by 3.9% in the third quarter. Sanders Morris Harris LLC now owns 17,450 shares of the shipping company’s stock valued at $271,000 after acquiring an additional 650 shares during the period. FMR LLC grew its position in Teekay LNG Partners by 2.8% in the second quarter. FMR LLC now owns 7,214,980 shares of the shipping company’s stock valued at $108,873,000 after acquiring an additional 195,000 shares during the period. Russell Investments Group Ltd. bought a new stake in Teekay LNG Partners in the second quarter valued at $197,000. Finally, McIlrath & Eck LLC bought a new stake in Teekay LNG Partners in the second quarter valued at $30,000. Institutional investors own 20.13% of the company’s stock.

Shares of TGP stock opened at $16.89 on Thursday. Teekay LNG Partners has a 12 month low of $10.97 and a 12 month high of $17.24. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 6.89 and a beta of 1.18. The stock’s 50 day simple moving average is $16.60. The company has a current ratio of 0.34, a quick ratio of 0.37 and a debt-to-equity ratio of 1.38.

Teekay LNG Partners (NYSE:TGP) last issued its quarterly earnings results on Thursday, November 4th. The shipping company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.02). Teekay LNG Partners had a return on equity of 14.90% and a net margin of 40.35%. The business had revenue of $146.60 million for the quarter, compared to analyst estimates of $143.97 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Teekay LNG Partners will post 2.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 12th. Stockholders of record on Friday, November 5th were issued a dividend of $0.2875 per share. The ex-dividend date was Thursday, November 4th. This is a positive change from Teekay LNG Partners’s previous quarterly dividend of $0.29. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.81%. Teekay LNG Partners’s payout ratio is 46.94%.

About Teekay LNG Partners

Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: LNG, LPG and conventional tanker. The company was founded on November 3, 2004 and is headquartered in Hamilton, Bermuda.

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