Teekay Lng Partners, L.P. (NYSE:TGP) Expected to Post Earnings of $0.50 Per Share

Equities research analysts predict that Teekay Lng Partners, L.P. (NYSE:TGP) will post earnings per share of $0.50 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Teekay Lng Partners’ earnings, with estimates ranging from $0.47 to $0.52. Teekay Lng Partners posted earnings of $0.16 per share in the same quarter last year, which would indicate a positive year over year growth rate of 212.5%. The firm is expected to report its next quarterly earnings report on Thursday, November 21st.

On average, analysts expect that Teekay Lng Partners will report full year earnings of $1.79 per share for the current financial year, with EPS estimates ranging from $1.71 to $1.85. For the next year, analysts anticipate that the business will post earnings of $2.34 per share, with EPS estimates ranging from $2.22 to $2.49. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Teekay Lng Partners.

Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The business had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $155.70 million. The company’s revenue for the quarter was up 25.2% on a year-over-year basis.

Several research firms have commented on TGP. Zacks Investment Research cut shares of Teekay Lng Partners from a “buy” rating to a “hold” rating in a research note on Friday. ValuEngine raised shares of Teekay Lng Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet raised shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.60.

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in shares of Teekay Lng Partners by 2,014.5% during the 2nd quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock valued at $29,529,000 after purchasing an additional 1,995,219 shares in the last quarter. O Keefe Stevens Advisory Inc. bought a new position in shares of Teekay Lng Partners during the 2nd quarter valued at about $2,320,000. Bank of Montreal Can boosted its position in shares of Teekay Lng Partners by 121.8% during the 2nd quarter. Bank of Montreal Can now owns 241,270 shares of the shipping company’s stock valued at $3,402,000 after purchasing an additional 132,500 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Teekay Lng Partners during the 2nd quarter valued at about $1,590,000. Finally, Morgan Stanley boosted its position in shares of Teekay Lng Partners by 37.0% during the 2nd quarter. Morgan Stanley now owns 356,705 shares of the shipping company’s stock valued at $5,030,000 after purchasing an additional 96,278 shares in the last quarter. 29.20% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TGP stock traded down $0.07 during trading hours on Monday, reaching $12.95. The stock had a trading volume of 517,696 shares, compared to its average volume of 238,293. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.54 and a quick ratio of 0.54. Teekay Lng Partners has a twelve month low of $10.74 and a twelve month high of $16.70. The firm has a 50-day simple moving average of $14.88 and a 200-day simple moving average of $14.58. The firm has a market capitalization of $1.02 billion, a PE ratio of 17.04 and a beta of 1.50.

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.

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