Golar LNG Partners (GMLP) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a report published on Tuesday.

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. “

GMLP has been the topic of several other research reports. BidaskClub upgraded shares of Golar LNG Partners from a strong sell rating to a sell rating in a report on Thursday, September 20th. B. Riley began coverage on shares of Golar LNG Partners in a report on Wednesday, September 5th. They issued a neutral rating and a $17.00 price target on the stock. BTIG Research began coverage on shares of Golar LNG Partners in a research note on Wednesday, July 18th. They set a neutral rating on the stock. DNB Markets cut shares of Golar LNG Partners from a hold rating to a sell rating in a research note on Wednesday, September 5th. Finally, ValuEngine raised shares of Golar LNG Partners from a sell rating to a hold rating in a research note on Monday, September 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Golar LNG Partners currently has a consensus rating of Hold and an average target price of $18.75.



Shares of NASDAQ:GMLP opened at $14.23 on Tuesday. Golar LNG Partners has a twelve month low of $12.71 and a twelve month high of $23.46. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.54 and a current ratio of 0.55. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.95.

Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings results on Thursday, August 23rd. The shipping company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Golar LNG Partners had a net margin of 26.85% and a return on equity of 13.60%. The company had revenue of $84.20 million for the quarter, compared to the consensus estimate of $81.17 million. On average, analysts forecast that Golar LNG Partners will post 0.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.404 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.62 dividend on an annualized basis and a dividend yield of 11.36%. Golar LNG Partners’s dividend payout ratio (DPR) is 122.87%.

Several large investors have recently made changes to their positions in the company. Wasatch Advisors Inc. lifted its position in shares of Golar LNG Partners by 13.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock valued at $530,000 after buying an additional 4,000 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of Golar LNG Partners by 28.4% during the 2nd quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock valued at $293,000 after buying an additional 4,181 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Golar LNG Partners by 58.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,810 shares of the shipping company’s stock valued at $202,000 after buying an additional 4,342 shares in the last quarter. Northern Trust Corp lifted its position in shares of Golar LNG Partners by 11.6% during the 1st quarter. Northern Trust Corp now owns 51,751 shares of the shipping company’s stock valued at $885,000 after buying an additional 5,370 shares in the last quarter. Finally, Sippican Capital Advisors lifted its holdings in Golar LNG Partners by 51.0% in the 2nd quarter. Sippican Capital Advisors now owns 35,256 shares of the shipping company’s stock valued at $545,000 after purchasing an additional 11,900 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

Recommended Story: What are earnings reports?

Get a free copy of the Zacks research report on Golar LNG Partners (GMLP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

Receive News & Ratings for Golar LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Golar LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply