Hoegh LNG Partners (NYSE:HMLP) Releases Quarterly Earnings Results, Misses Expectations By $0.27 EPS

Hoegh LNG Partners (NYSE:HMLP) issued its quarterly earnings results on Thursday. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.27), Briefing.com reports. Hoegh LNG Partners had a return on equity of 17.42% and a net margin of 38.82%. The company had revenue of $33.78 million for the quarter, compared to analysts’ expectations of $35.27 million. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s revenue for the quarter was down 7.7% on a year-over-year basis.

Shares of HMLP stock opened at $14.75 on Friday. The company has a 50 day moving average of $17.29 and a 200-day moving average of $18.11. The firm has a market cap of $496.59 million, a P/E ratio of 9.44, a PEG ratio of 8.12 and a beta of 0.98. Hoegh LNG Partners has a 12-month low of $14.05 and a 12-month high of $19.98. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.10.

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.76 annualized dividend and a dividend yield of 11.93%. Hoegh LNG Partners’s payout ratio is currently 96.70%.



Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. TheStreet lowered shares of Hoegh LNG Partners from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Finally, ValuEngine lowered shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $19.80.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trustcore Financial Services LLC boosted its holdings in Hoegh LNG Partners by 52.5% in the 1st quarter. Trustcore Financial Services LLC now owns 6,100 shares of the shipping company’s stock worth $119,000 after buying an additional 2,100 shares during the period. Osborn Williams & Donohoe LLC bought a new position in Hoegh LNG Partners in the 1st quarter worth approximately $163,000. Virtu Financial LLC bought a new position in Hoegh LNG Partners in the 1st quarter worth approximately $219,000. Concorde Asset Management LLC bought a new position in Hoegh LNG Partners in the 1st quarter worth approximately $279,000. Finally, Marshall Wace LLP bought a new position in Hoegh LNG Partners in the 2nd quarter worth approximately $299,000. 23.65% of the stock is owned by institutional investors.

About Hoegh LNG Partners

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

See Also: Example of operating income, EBIT and EBITDA

Earnings History for Hoegh LNG Partners (NYSE:HMLP)

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