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.
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.
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