Teekay Lng Partners, L.P. (NYSE:TGP) Short Interest Update

Teekay Lng Partners, L.P. (NYSE:TGP) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 810,600 shares, an increase of 43.6% from the May 30th total of 564,500 shares. Based on an average daily trading volume, of 152,900 shares, the days-to-cover ratio is currently 5.3 days. Currently, 1.5% of the company’s stock are short sold.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its holdings in Teekay Lng Partners by 109.4% during the 1st quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Baldwin Investment Management LLC grew its holdings in shares of Teekay Lng Partners by 10.2% in the first quarter. Baldwin Investment Management LLC now owns 21,540 shares of the shipping company’s stock valued at $322,000 after acquiring an additional 2,000 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Teekay Lng Partners in the first quarter valued at approximately $30,000. Whittier Trust Co. bought a new position in shares of Teekay Lng Partners in the first quarter valued at approximately $34,000. Finally, Destination Wealth Management bought a new position in shares of Teekay Lng Partners in the first quarter valued at approximately $38,000. 28.75% of the stock is owned by hedge funds and other institutional investors.

TGP traded up $0.41 during midday trading on Friday, reaching $15.48. 291,364 shares of the company were exchanged, compared to its average volume of 126,489. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a fifty day moving average of $13.79. The company has a market cap of $1.23 billion, a P/E ratio of 20.37 and a beta of 1.51. Teekay Lng Partners has a one year low of $10.74 and a one year high of $17.50.

Teekay Lng Partners (NYSE:TGP) last issued its quarterly earnings data on Thursday, May 23rd. The shipping company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $149.74 million during the quarter, compared to analyst estimates of $151.96 million. Teekay Lng Partners had a return on equity of 5.75% and a net margin of 10.92%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. On average, sell-side analysts forecast that Teekay Lng Partners will post 1.88 EPS for the current year.

Separately, ValuEngine raised Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.00.

About Teekay Lng Partners

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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

Further Reading: Can systematic risk be avoided?

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