Hoegh LNG Partners (HMLP) Downgraded by Barclays to “Equal Weight”

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Hoegh LNG Partners (NYSE:HMLP) was downgraded by research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Friday, Marketbeat Ratings reports. They currently have a $19.00 target price on the shipping company’s stock, down from their previous target price of $20.00. Barclays’ target price would suggest a potential upside of 7.59% from the company’s previous close.

HMLP has been the topic of a number of other research reports. Berenberg Bank began coverage on shares of Hoegh LNG Partners in a research note on Thursday, September 6th. They set a “hold” rating and a $19.00 price objective on the stock. ValuEngine lowered shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. B. Riley began coverage on shares of Hoegh LNG Partners in a research note on Wednesday, September 5th. They set a “buy” rating and a $21.00 price objective on the stock. Zacks Investment Research lowered shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Finally, BTIG Research started coverage on shares of Hoegh LNG Partners in a research note on Wednesday, July 18th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Hoegh LNG Partners has an average rating of “Hold” and a consensus target price of $19.83.

HMLP opened at $17.66 on Friday. The company has a market cap of $607.09 million, a PE ratio of 12.99, a PEG ratio of 0.77 and a beta of 0.92. Hoegh LNG Partners has a 52-week low of $15.32 and a 52-week high of $19.85. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.75 and a current ratio of 0.76.

Hoegh LNG Partners (NYSE:HMLP) last posted its quarterly earnings data on Thursday, August 23rd. The shipping company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.13. The company had revenue of $36.61 million for the quarter, compared to analyst estimates of $36.19 million. Hoegh LNG Partners had a net margin of 46.62% and a return on equity of 14.66%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. Equities research analysts predict that Hoegh LNG Partners will post 1.67 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Hoegh LNG Partners by 1.8% in the second quarter. FMR LLC now owns 1,975,906 shares of the shipping company’s stock worth $35,468,000 after buying an additional 34,900 shares during the last quarter. Bridgeworth LLC bought a new stake in Hoegh LNG Partners during the second quarter valued at $148,000. Bard Associates Inc. increased its stake in Hoegh LNG Partners by 14.0% during the second quarter. Bard Associates Inc. now owns 25,498 shares of the shipping company’s stock valued at $458,000 after purchasing an additional 3,135 shares during the last quarter. Renaissance Technologies LLC increased its stake in Hoegh LNG Partners by 44.6% during the second quarter. Renaissance Technologies LLC now owns 476,500 shares of the shipping company’s stock valued at $8,553,000 after purchasing an additional 147,000 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in Hoegh LNG Partners by 87.7% during the first quarter. Stifel Financial Corp now owns 43,776 shares of the shipping company’s stock valued at $705,000 after purchasing an additional 20,459 shares during the last quarter. Institutional investors and hedge funds own 27.03% of the company’s stock.

Hoegh LNG Partners Company Profile

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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