Zacks Investment Research cut shares of Teekay Lng Partners (NYSE:TGP) from a hold rating to a strong sell rating in a research report report published on Wednesday.

According to Zacks, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. “

A number of other equities analysts have also weighed in on the company. ValuEngine upgraded Teekay Lng Partners from a hold rating to a buy rating in a research note on Sunday, December 31st. Stifel Nicolaus set a $20.00 target price on Teekay Lng Partners and gave the stock a hold rating in a research note on Friday, February 23rd. Morgan Stanley increased their target price on Teekay Lng Partners from $15.00 to $19.00 and gave the stock an equal weight rating in a research note on Monday, February 12th. Finally, Citigroup increased their target price on Teekay Lng Partners from $15.00 to $19.00 and gave the stock a neutral rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Teekay Lng Partners currently has an average rating of Hold and an average target price of $20.00.

Shares of NYSE TGP opened at $18.35 on Wednesday. The company has a market cap of $1,461.15, a PE ratio of 18.35 and a beta of 1.15. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.42 and a current ratio of 0.42. Teekay Lng Partners has a 1-year low of $14.05 and a 1-year high of $21.65.

Teekay Lng Partners (NYSE:TGP) last announced its earnings results on Thursday, February 22nd. The shipping company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The company had revenue of $122.00 million for the quarter, compared to analyst estimates of $111.54 million. Teekay Lng Partners had a return on equity of 5.97% and a net margin of 8.87%. equities research analysts predict that Teekay Lng Partners will post 1.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Friday, May 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 3.05%. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 56.00%.

A number of institutional investors have recently bought and sold shares of TGP. Beach Investment Counsel Inc. PA increased its stake in Teekay Lng Partners by 534.4% during the 4th quarter. Beach Investment Counsel Inc. PA now owns 216,380 shares of the shipping company’s stock worth $4,360,000 after acquiring an additional 182,272 shares during the period. Goldman Sachs Group Inc. increased its stake in Teekay Lng Partners by 18.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 934,499 shares of the shipping company’s stock worth $18,830,000 after acquiring an additional 146,514 shares during the period. Two Sigma Investments LP bought a new position in Teekay Lng Partners during the 4th quarter worth $1,453,000. ACG Wealth bought a new position in Teekay Lng Partners during the 4th quarter worth $1,402,000. Finally, Renaissance Technologies LLC bought a new position in Teekay Lng Partners during the 4th quarter worth $895,000. Hedge funds and other institutional investors own 34.46% of the company’s stock.

Teekay Lng Partners Company Profile

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

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Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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