Teekay Lng Partners (TGP) Earns Hold Rating from Analysts at Deutsche Bank

Share on StockTwits

Deutsche Bank initiated coverage on shares of Teekay Lng Partners (NYSE:TGP) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $17.00 target price on the shipping company’s stock.

Several other analysts have also weighed in on the stock. ValuEngine raised shares of Teekay Lng Partners from a sell rating to a hold rating in a report on Friday, September 28th. Morgan Stanley dropped their price objective on shares of Teekay Lng Partners from $19.00 to $17.50 and set an equal weight rating for the company in a report on Wednesday, June 13th. Finally, Zacks Investment Research lowered shares of Teekay Lng Partners from a hold rating to a sell rating in a report on Thursday, October 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and an average price target of $19.25.

NYSE:TGP opened at $15.48 on Wednesday. Teekay Lng Partners has a 12-month low of $14.70 and a 12-month high of $21.65. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.46 and a quick ratio of 0.46. The stock has a market capitalization of $1.33 billion, a P/E ratio of 15.48 and a beta of 1.19.

Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings results on Thursday, August 2nd. The shipping company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.17). Teekay Lng Partners had a return on equity of 5.85% and a net margin of 10.11%. The business had revenue of $114.36 million during the quarter, compared to analyst estimates of $126.85 million. Equities analysts predict that Teekay Lng Partners will post 1 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, November 1st. Teekay Lng Partners’s payout ratio is 56.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its holdings in shares of Teekay Lng Partners by 8.0% during the second quarter. California Public Employees Retirement System now owns 62,621 shares of the shipping company’s stock worth $1,055,000 after buying an additional 4,660 shares in the last quarter. Guggenheim Capital LLC increased its holdings in shares of Teekay Lng Partners by 5.6% during the first quarter. Guggenheim Capital LLC now owns 196,586 shares of the shipping company’s stock worth $3,519,000 after buying an additional 10,466 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Teekay Lng Partners by 10.9% during the second quarter. Van ECK Associates Corp now owns 162,580 shares of the shipping company’s stock worth $2,739,000 after buying an additional 15,947 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Teekay Lng Partners by 17.3% during the first quarter. Wells Fargo & Company MN now owns 199,279 shares of the shipping company’s stock worth $3,567,000 after buying an additional 29,344 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Teekay Lng Partners by 1.5% during the second quarter. Morgan Stanley now owns 2,201,623 shares of the shipping company’s stock worth $37,097,000 after buying an additional 31,659 shares in the last quarter. 34.96% of the stock is owned by institutional investors.

Teekay Lng Partners Company Profile

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

Featured Story: Google Finance

Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

Receive News & Ratings for Teekay Lng Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Lng Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply