Golar LNG Partners LP (GMLP) Given Average Rating of “Hold” by Brokerages

Golar LNG Partners LP (NASDAQ:GMLP) has received an average recommendation of “Hold” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $18.00.

Several brokerages recently commented on GMLP. Citigroup reduced their target price on Golar LNG Partners from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, July 31st. Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. ValuEngine cut Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. BidaskClub upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Berenberg Bank began coverage on Golar LNG Partners in a report on Thursday, September 6th. They issued a “hold” rating and a $13.00 target price on the stock.

Golar LNG Partners stock opened at $14.10 on Thursday. Golar LNG Partners has a 1 year low of $12.71 and a 1 year high of $23.46. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.55 and a quick ratio of 0.54. The company has a market capitalization of $1.02 billion, a PE ratio of 7.50, a PEG ratio of 1.78 and a beta of 0.95.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. The company had revenue of $84.20 million during the quarter, compared to the consensus estimate of $81.17 million. On average, sell-side analysts predict that Golar LNG Partners will post 1.01 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the stock. Old Port Advisors bought a new position in shares of Golar LNG Partners during the 2nd quarter worth approximately $465,000. FMR LLC boosted its holdings in shares of Golar LNG Partners by 52.8% during the 2nd quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock worth $106,527,000 after buying an additional 2,379,700 shares in the last quarter. Global X Management Co LLC bought a new position in shares of Golar LNG Partners during the 2nd quarter worth approximately $6,948,000. California Public Employees Retirement System boosted its holdings in shares of Golar LNG Partners by 25.1% during the 2nd quarter. California Public Employees Retirement System now owns 193,365 shares of the shipping company’s stock worth $2,989,000 after buying an additional 38,813 shares in the last quarter. Finally, Ardsley Advisory Partners bought a new position in shares of Golar LNG Partners during the 2nd quarter worth approximately $773,000. Institutional investors and hedge funds own 39.99% of the company’s stock.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

Further Reading: Moving Average (MA)

Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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