Golar LNG Partners (NASDAQ:GMLP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research report sent to investors on Friday, December 1st.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

A number of other analysts have also recently weighed in on the company. ValuEngine raised Golar LNG Partners from a buy rating to a strong-buy rating in a research report on Friday, September 1st. Stifel Nicolaus reaffirmed a hold rating on shares of Golar LNG Partners in a research report on Friday, September 22nd. ABN Amro began coverage on Golar LNG Partners in a research report on Monday, October 30th. They issued a buy rating for the company. Finally, Jefferies Group reissued a buy rating on shares of Golar LNG Partners in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Golar LNG Partners currently has an average rating of Hold and a consensus price target of $23.25.

Golar LNG Partners (NASDAQ:GMLP) opened at $21.00 on Friday. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.00. Golar LNG Partners has a 52 week low of $18.77 and a 52 week high of $25.82. The company has a market capitalization of $1,475.41, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.32 and a beta of 0.88.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, October 30th were issued a $0.5775 dividend. This represents a $2.31 annualized dividend and a dividend yield of 11.00%. The ex-dividend date of this dividend was Friday, October 27th. Golar LNG Partners’s payout ratio is 77.78%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new stake in shares of Golar LNG Partners during the second quarter worth $9,812,000. Goldman Sachs Group Inc. raised its holdings in shares of Golar LNG Partners by 96.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 916,507 shares of the shipping company’s stock worth $18,394,000 after acquiring an additional 449,868 shares during the last quarter. Huber Capital Management LLC raised its holdings in shares of Golar LNG Partners by 14.2% in the 2nd quarter. Huber Capital Management LLC now owns 1,764,626 shares of the shipping company’s stock worth $35,416,000 after acquiring an additional 219,511 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Golar LNG Partners by 37.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock worth $15,110,000 after buying an additional 181,868 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in shares of Golar LNG Partners during the 2nd quarter valued at $2,821,000. Institutional investors own 46.85% of the company’s stock.

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Golar LNG Partners Company Profile

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.

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