Shares of Golar LNG Partners LP (NASDAQ:GMLP) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.33.
GMLP has been the topic of several analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 target price on shares of Golar LNG Partners in a report on Monday, June 12th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 target price on shares of Golar LNG Partners in a report on Friday, July 14th. BidaskClub upgraded Golar LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, July 31st. ValuEngine upgraded Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research downgraded Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
A number of hedge funds have recently bought and sold shares of the business. Wasatch Advisors Inc. increased its holdings in Golar LNG Partners by 11.6% during the 2nd quarter. Wasatch Advisors Inc. now owns 24,000 shares of the shipping company’s stock worth $482,000 after purchasing an additional 2,500 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Golar LNG Partners by 2.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,741 shares of the shipping company’s stock worth $336,000 after purchasing an additional 361 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Golar LNG Partners during the 2nd quarter worth approximately $2,239,000. Royal Bank of Canada increased its holdings in Golar LNG Partners by 1.1% during the 2nd quarter. Royal Bank of Canada now owns 41,584 shares of the shipping company’s stock worth $834,000 after purchasing an additional 448 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Golar LNG Partners by 96.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 916,507 shares of the shipping company’s stock worth $18,394,000 after purchasing an additional 449,868 shares during the last quarter. Institutional investors own 73.98% of the company’s stock.
Golar LNG Partners (GMLP) traded down 0.99% during mid-day trading on Wednesday, hitting $21.92. 527,728 shares of the company were exchanged. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 7.12 and a beta of 0.94. Golar LNG Partners has a 12 month low of $18.32 and a 12 month high of $25.82. The firm has a 50 day moving average price of $21.06 and a 200 day moving average price of $21.27.
Golar LNG Partners (NASDAQ:GMLP) last announced its earnings results on Wednesday, August 30th. The shipping company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.69% and a net margin of 43.94%. Analysts anticipate that Golar LNG Partners will post $1.98 EPS for the current fiscal year.
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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 time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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