Teekay LNG Partners (TGP) PT Raised to $19.00 at Morgan Stanley

Teekay LNG Partners (NYSE:TGP) had its target price raised by Morgan Stanley from $15.00 to $19.00 in a research report report published on Monday. Morgan Stanley currently has an equal weight rating on the shipping company’s stock.

Several other brokerages have also commented on TGP. ValuEngine upgraded shares of Teekay LNG Partners from a hold rating to a buy rating in a research note on Sunday, December 31st. Jefferies Group started coverage on shares of Teekay LNG Partners in a research note on Monday, December 18th. They issued a hold rating and a $18.00 price target on the stock. Zacks Investment Research lowered shares of Teekay LNG Partners from a hold rating to a strong sell rating in a research note on Tuesday, November 14th. Finally, UBS Group dropped their price target on shares of Teekay LNG Partners from $26.00 to $24.00 and set a buy rating on the stock in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Teekay LNG Partners has a consensus rating of Hold and an average price target of $18.33.

Shares of Teekay LNG Partners (NYSE TGP) opened at $19.00 on Monday. The firm has a market cap of $1,510.00, a P/E ratio of 22.89 and a beta of 1.17. Teekay LNG Partners has a 1-year low of $14.05 and a 1-year high of $21.65. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.22.

The business also recently declared a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, February 2nd were paid a $0.14 dividend. The ex-dividend date was Thursday, February 1st. This represents a $0.56 annualized dividend and a yield of 2.95%. Teekay LNG Partners’s dividend payout ratio is currently 67.47%.

A number of institutional investors have recently made changes to their positions in TGP. Alliancebernstein L.P. increased its stake in Teekay LNG Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock valued at $205,000 after purchasing an additional 746 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Teekay LNG Partners in the second quarter valued at approximately $249,000. Raymond James Financial Services Advisors Inc. increased its stake in Teekay LNG Partners by 30.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 37,855 shares of the shipping company’s stock valued at $581,000 after purchasing an additional 8,794 shares during the last quarter. Cetera Investment Advisers purchased a new position in Teekay LNG Partners in the second quarter valued at approximately $1,073,000. Finally, Toronto Dominion Bank increased its stake in Teekay LNG Partners by 103.7% in the third quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock valued at $256,000 after purchasing an additional 403,411 shares during the last quarter. Institutional investors own 35.57% of the company’s stock.

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Teekay LNG Partners Company Profile

Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.

Analyst Recommendations for Teekay LNG Partners (NYSE:TGP)

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