Zacks Investment Research Upgrades Teekay Lng Partners (NYSE:TGP) to “Buy”

Teekay Lng Partners (NYSE:TGP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $15.00 price objective on the shipping company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.83% from the company’s current price.

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 research analysts have also recently issued reports on the stock. TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Thursday, August 1st. ValuEngine cut shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Teekay Lng Partners currently has an average rating of “Hold” and a consensus price target of $16.60.

Shares of NYSE:TGP traded down $0.07 during midday trading on Wednesday, reaching $12.95. 517,696 shares of the company’s stock were exchanged, compared to its average volume of 238,293. The company’s 50 day simple moving average is $14.88 and its two-hundred day simple moving average is $14.58. The firm has a market capitalization of $1.01 billion, a PE ratio of 17.04 and a beta of 1.50. Teekay Lng Partners has a 12 month low of $10.74 and a 12 month high of $16.70. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.54 and a current ratio of 0.54.

Teekay Lng Partners (NYSE:TGP) last announced its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $155.70 million. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. On average, research analysts anticipate that Teekay Lng Partners will post 1.79 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in TGP. Advisory Services Network LLC increased its position in shares of 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. SeaBridge Investment Advisors LLC increased its position in shares of Teekay Lng Partners by 16.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock worth $99,000 after purchasing an additional 1,000 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Teekay Lng Partners by 101.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,889 shares of the shipping company’s stock worth $126,000 after purchasing an additional 4,482 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Teekay Lng Partners during the 2nd quarter worth about $200,000. Finally, Valmark Advisers Inc. increased its position in shares of Teekay Lng Partners by 32.1% during the 2nd quarter. Valmark Advisers Inc. now owns 20,746 shares of the shipping company’s stock worth $293,000 after purchasing an additional 5,047 shares in the last quarter. Institutional investors and hedge funds own 29.20% 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 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.

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