Hoegh LNG Partners LP (NYSE:HMLP) Short Interest Update

Hoegh LNG Partners LP (NYSE:HMLP) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 33,900 shares, a decline of 40.8% from the July 31st total of 57,300 shares. Based on an average daily volume of 105,500 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

A number of research firms have commented on HMLP. TheStreet downgraded shares of Hoegh LNG Partners from a “b-” rating to a “c+” rating in a report on Thursday, August 8th. Citigroup decreased their price objective on shares of Hoegh LNG Partners from $19.50 to $16.00 and set a “buy” rating for the company in a report on Monday, August 26th. Barclays decreased their price objective on shares of Hoegh LNG Partners from $20.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Zacks Investment Research raised shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, B. Riley set a $21.00 price objective on shares of Hoegh LNG Partners and gave the stock a “buy” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Hoegh LNG Partners has an average rating of “Hold” and a consensus price target of $19.00.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in shares of Hoegh LNG Partners by 9.7% during the second quarter. Renaissance Technologies LLC now owns 681,400 shares of the shipping company’s stock valued at $11,788,000 after acquiring an additional 60,500 shares during the period. Invesco Ltd. acquired a new position in shares of Hoegh LNG Partners during the second quarter valued at $8,376,000. Morgan Stanley boosted its holdings in shares of Hoegh LNG Partners by 8.6% during the second quarter. Morgan Stanley now owns 411,930 shares of the shipping company’s stock valued at $7,127,000 after acquiring an additional 32,623 shares during the period. Globeflex Capital L P boosted its holdings in shares of Hoegh LNG Partners by 29.9% during the first quarter. Globeflex Capital L P now owns 347,310 shares of the shipping company’s stock valued at $6,790,000 after acquiring an additional 80,034 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Hoegh LNG Partners by 33.6% during the first quarter. Acadian Asset Management LLC now owns 38,930 shares of the shipping company’s stock valued at $760,000 after acquiring an additional 9,780 shares during the period. 24.45% of the stock is owned by institutional investors.

Shares of HMLP traded up $0.13 during midday trading on Friday, hitting $15.55. 81,100 shares of the stock traded hands, compared to its average volume of 92,981. Hoegh LNG Partners has a 1-year low of $14.05 and a 1-year high of $19.98. The firm has a market capitalization of $514.42 million, a PE ratio of 8.54, a price-to-earnings-growth ratio of 10.42 and a beta of 1.03. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50 day moving average price is $16.14 and its two-hundred day moving average price is $17.81.

Hoegh LNG Partners (NYSE:HMLP) last announced its quarterly earnings results on Thursday, August 22nd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.27). Hoegh LNG Partners had a net margin of 38.82% and a return on equity of 17.76%. The firm had revenue of $33.78 million for the quarter, compared to analyst estimates of $35.27 million. During the same period last year, the firm posted $0.53 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, equities research analysts forecast that Hoegh LNG Partners will post 1.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 11.32%. The ex-dividend date was Wednesday, July 31st. Hoegh LNG Partners’s dividend payout ratio (DPR) is 96.70%.

About Hoegh LNG Partners

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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