Golar LNG Partners (GMLP) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research report released on Friday morning.
According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “
Other equities analysts have also recently issued reports about the stock. ABN Amro started coverage on shares of Golar LNG Partners in a research report on Monday, October 30th. They set a buy rating for the company. Jefferies Group reissued a buy rating and set a $26.00 target price on shares of Golar LNG Partners in a report on Tuesday, September 26th. Stifel Nicolaus set a $23.00 target price on Golar LNG Partners and gave the stock a hold rating in a report on Thursday, August 17th. Finally, ValuEngine raised Golar LNG Partners from a buy rating to a strong-buy rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Golar LNG Partners has a consensus rating of Buy and an average price target of $23.25.
Golar LNG Partners (NASDAQ GMLP) opened at $20.39 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 1.95. Golar LNG Partners has a 52-week low of $18.77 and a 52-week high of $25.82. The company has a market cap of $1,416.76, a price-to-earnings ratio of 6.75, a price-to-earnings-growth ratio of 1.23 and a beta of 0.88.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, October 30th were issued a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date was Friday, October 27th. Golar LNG Partners’s dividend payout ratio is currently 77.78%.
Several institutional investors and hedge funds have recently bought and sold shares of GMLP. First Trust Advisors LP acquired a new stake in shares of Golar LNG Partners during the second quarter worth $9,812,000. Goldman Sachs Group Inc. lifted its holdings in shares of Golar LNG Partners by 96.4% during the second quarter. Goldman Sachs Group Inc. now owns 916,507 shares of the shipping company’s stock worth $18,394,000 after buying an additional 449,868 shares in the last quarter. Huber Capital Management LLC lifted its holdings in shares of Golar LNG Partners by 14.2% during the second quarter. Huber Capital Management LLC now owns 1,764,626 shares of the shipping company’s stock worth $35,416,000 after buying an additional 219,511 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Golar LNG Partners by 37.5% in the third quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock valued at $15,110,000 after purchasing an additional 181,868 shares in the last quarter. Finally, Rafferty Asset Management LLC acquired a new position in Golar LNG Partners in the second quarter valued at about $2,821,000. 46.85% of the stock is owned by institutional investors.
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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 time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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