Golar LNG Partners (GMLP) Cut to Sell at ValuEngine

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ValuEngine downgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research report released on Tuesday.

Several other brokerages have also commented on GMLP. B. Riley set a $17.00 price objective on Golar LNG Partners and gave the stock a hold rating in a report on Tuesday. Zacks Investment Research lowered Golar LNG Partners from a hold rating to a sell rating in a report on Tuesday, October 23rd. Citigroup cut their price objective on Golar LNG Partners from $19.00 to $17.00 and set a neutral rating for the company in a report on Tuesday, July 31st. BidaskClub raised Golar LNG Partners from a sell rating to a hold rating in a report on Thursday, August 2nd. Finally, Berenberg Bank assumed coverage on Golar LNG Partners in a research note on Thursday, September 6th. They issued a hold rating and a $13.00 target price for the company. Four analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Golar LNG Partners has a consensus rating of Hold and a consensus target price of $18.75.

Shares of NASDAQ GMLP opened at $14.30 on Tuesday. Golar LNG Partners has a 12 month low of $12.71 and a 12 month high of $23.46. The company has a quick ratio of 0.54, a current ratio of 0.55 and a debt-to-equity ratio of 1.65. The stock has a market cap of $1.05 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91.

Golar LNG Partners (NASDAQ:GMLP) last issued its quarterly earnings data on Monday, November 5th. The shipping company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.36. Golar LNG Partners had a return on equity of 13.60% and a net margin of 26.85%. Sell-side analysts anticipate that Golar LNG Partners will post 0.91 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be paid a $0.404 dividend. This represents a $1.62 annualized dividend and a yield of 11.30%. The ex-dividend date of this dividend is Tuesday, November 6th. Golar LNG Partners’s dividend payout ratio is currently 122.87%.

Institutional investors and hedge funds have recently modified their holdings of the business. Wedbush Securities Inc. boosted its stake in Golar LNG Partners by 28.4% in the second quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock worth $293,000 after buying an additional 4,181 shares in the last quarter. Millennium Management LLC purchased a new stake in Golar LNG Partners in the first quarter worth approximately $1,866,000. Van ECK Associates Corp lifted its position in Golar LNG Partners by 10.9% in the second quarter. Van ECK Associates Corp now owns 160,020 shares of the shipping company’s stock valued at $2,474,000 after purchasing an additional 15,696 shares during the last quarter. Huber Capital Management LLC lifted its position in Golar LNG Partners by 11.5% in the second quarter. Huber Capital Management LLC now owns 1,923,569 shares of the shipping company’s stock valued at $29,738,000 after purchasing an additional 198,135 shares during the last quarter. Finally, FMR LLC lifted its position in Golar LNG Partners by 52.8% in the second quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock valued at $106,527,000 after purchasing an additional 2,379,700 shares during the last quarter. 39.28% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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