Morgan Stanley Cuts Dynagas LNG Partners (DLNG) Price Target to $11.50
Dynagas LNG Partners (NYSE:DLNG) had its price objective decreased by Morgan Stanley from $13.00 to $11.50 in a research note released on Monday. Morgan Stanley currently has an equal weight rating on the shipping company’s stock.
DLNG has been the topic of several other research reports. Jefferies Group initiated coverage on Dynagas LNG Partners in a report on Monday, December 18th. They issued a buy rating and a $19.00 price target on the stock. Zacks Investment Research upgraded Dynagas LNG Partners from a sell rating to a hold rating in a report on Monday, November 13th. ValuEngine cut Dynagas LNG Partners from a buy rating to a hold rating in a report on Friday, February 2nd. Stifel Nicolaus cut Dynagas LNG Partners from a buy rating to a hold rating and decreased their price target for the company from $17.00 to $11.00 in a report on Thursday, December 28th. Finally, Maxim Group reissued a buy rating and issued a $15.00 target price (down previously from $18.00) on shares of Dynagas LNG Partners in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $14.70.
Dynagas LNG Partners (DLNG) opened at $10.95 on Monday. The stock has a market capitalization of $388.64, a PE ratio of 10.62 and a beta of 1.14. Dynagas LNG Partners has a 1-year low of $10.49 and a 1-year high of $17.93. The company has a quick ratio of 2.95, a current ratio of 2.95 and a debt-to-equity ratio of 2.78.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Thursday, January 11th were paid a $0.4225 dividend. This represents a $1.69 annualized dividend and a yield of 15.43%. The ex-dividend date was Wednesday, January 10th. Dynagas LNG Partners’s payout ratio is 291.38%.
A number of large investors have recently added to or reduced their stakes in DLNG. Deutsche Bank AG acquired a new position in Dynagas LNG Partners in the fourth quarter valued at about $893,000. Renaissance Technologies LLC acquired a new position in Dynagas LNG Partners in the fourth quarter valued at about $891,000. Virtu Financial LLC acquired a new position in Dynagas LNG Partners in the fourth quarter valued at about $416,000. SeaCrest Wealth Management LLC acquired a new position in Dynagas LNG Partners in the fourth quarter valued at about $380,000. Finally, Millennium Management LLC acquired a new position in Dynagas LNG Partners in the fourth quarter valued at about $199,000. 17.40% of the stock is currently owned by hedge funds and other institutional investors.
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About Dynagas LNG Partners
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
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