Teekay LNG Partners L.P. (TGP) Set to Announce Quarterly Earnings on Wednesday
Teekay LNG Partners L.P. (NYSE:TGP) will announce its earnings results before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.37 per share for the quarter.
Teekay LNG Partners L.P. (NYSE:TGP) last posted its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.12). The firm had revenue of $99.91 million for the quarter, compared to analysts’ expectations of $103.31 million. Teekay LNG Partners L.P. had a net margin of 38.28% and a return on equity of 6.12%. On average, analysts expect Teekay LNG Partners L.P. to post $1.26 EPS for the current fiscal year and $1.85 EPS for the next fiscal year.
Shares of Teekay LNG Partners L.P. (TGP) opened at 17.40 on Tuesday. The stock has a market cap of $1.39 billion, a P/E ratio of 10.18 and a beta of 1.25. Teekay LNG Partners L.P. has a 1-year low of $13.06 and a 1-year high of $19.90. The firm’s 50-day moving average price is $17.64 and its 200 day moving average price is $16.88.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, November 3rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Thursday, November 2nd. Teekay LNG Partners L.P.’s dividend payout ratio is presently 32.75%.
TGP has been the topic of a number of research analyst reports. ValuEngine cut Teekay LNG Partners L.P. from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. TheStreet cut Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 target price on shares of Teekay LNG Partners L.P. in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded Teekay LNG Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.50.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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