Teekay LNG Partners L.P. (TGP) Shares Sold by Raymond James Financial Services Advisors Inc.
Raymond James Financial Services Advisors Inc. trimmed its holdings in Teekay LNG Partners L.P. (NYSE:TGP) by 20.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,225 shares of the shipping company’s stock after selling 7,630 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Teekay LNG Partners were worth $538,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. CNH Partners LLC lifted its stake in Teekay LNG Partners by 1.0% in the second quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock valued at $315,000 after buying an additional 200 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Teekay LNG Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock valued at $205,000 after buying an additional 746 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in Teekay LNG Partners in the second quarter valued at approximately $249,000. Airain ltd lifted its stake in Teekay LNG Partners by 14.9% in the second quarter. Airain ltd now owns 167,745 shares of the shipping company’s stock valued at $2,575,000 after buying an additional 21,699 shares during the last quarter. Finally, Beach Investment Management LLC. purchased a new stake in Teekay LNG Partners in the second quarter valued at approximately $524,000. 36.23% of the stock is owned by hedge funds and other institutional investors.
Teekay LNG Partners L.P. (TGP) remained flat at $$17.95 during trading on Wednesday. The company had a trading volume of 73,800 shares, compared to its average volume of 297,082. Teekay LNG Partners L.P. has a 52 week low of $13.80 and a 52 week high of $19.90. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.32 and a quick ratio of 0.32. The firm has a market cap of $1,410.00, a PE ratio of 20.63 and a beta of 1.27.
The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend was Thursday, November 2nd. Teekay LNG Partners’s dividend payout ratio (DPR) is presently 67.47%.
A number of equities research analysts have weighed in on TGP shares. UBS reduced their price objective on Teekay LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Zacks Investment Research cut Teekay LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $17.50.
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Teekay LNG Partners Profile
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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