GasLog Partners LP Unit (GLOP) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of GasLog Partners LP Unit (NYSE:GLOP) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “

Other equities research analysts also recently issued reports about the stock. Berenberg Bank initiated coverage on shares of GasLog Partners LP Unit in a research note on Thursday, September 6th. They issued a buy rating and a $29.00 target price for the company. BTIG Research initiated coverage on shares of GasLog Partners LP Unit in a research note on Wednesday, July 18th. They issued a buy rating and a $30.00 target price for the company. B. Riley set a $27.00 target price on shares of GasLog Partners LP Unit and gave the company a hold rating in a research note on Tuesday, July 31st. Finally, ValuEngine downgraded shares of GasLog Partners LP Unit from a buy rating to a hold rating in a research note on Saturday, June 2nd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $27.38.

Shares of NYSE:GLOP opened at $24.65 on Wednesday. GasLog Partners LP Unit has a 52-week low of $21.85 and a 52-week high of $25.60. The stock has a market capitalization of $1.03 billion, a P/E ratio of 11.96 and a beta of 1.30. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.04 and a quick ratio of 1.01.

GasLog Partners LP Unit (NYSE:GLOP) last issued its earnings results on Thursday, July 26th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. GasLog Partners LP Unit had a net margin of 33.85% and a return on equity of 13.26%. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $74.87 million. During the same period last year, the business posted $0.45 EPS. GasLog Partners LP Unit’s revenue was down 10.0% on a year-over-year basis. sell-side analysts expect that GasLog Partners LP Unit will post 1.67 EPS for the current year.

A number of hedge funds have recently modified their holdings of GLOP. Wells Fargo & Company MN lifted its position in GasLog Partners LP Unit by 8.8% during the first quarter. Wells Fargo & Company MN now owns 188,851 shares of the shipping company’s stock worth $4,400,000 after acquiring an additional 15,266 shares during the last quarter. BlackRock Inc. acquired a new stake in GasLog Partners LP Unit during the first quarter worth approximately $129,000. IFP Advisors Inc lifted its position in GasLog Partners LP Unit by 114.8% during the first quarter. IFP Advisors Inc now owns 12,179 shares of the shipping company’s stock worth $284,000 after acquiring an additional 6,509 shares during the last quarter. Citigroup Inc. lifted its position in GasLog Partners LP Unit by 76.8% during the first quarter. Citigroup Inc. now owns 10,872 shares of the shipping company’s stock worth $253,000 after acquiring an additional 4,721 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in GasLog Partners LP Unit by 27.8% during the first quarter. Stifel Financial Corp now owns 38,763 shares of the shipping company’s stock worth $902,000 after acquiring an additional 8,428 shares during the last quarter. Hedge funds and other institutional investors own 40.10% of the company’s stock.

GasLog Partners LP Unit Company Profile

GasLog Partners LP owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters. As of February 8, 2018, it had a fleet of 12 LNG carriers. The company was founded in 2014 and is based in Monaco.

Read More: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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