Teekay Lng Partners, L.P. (TGP) Receives $17.40 Average PT from Analysts

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Teekay Lng Partners, L.P. (NYSE:TGP) has received an average rating of “Hold” from the nine brokerages that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $17.40.

TGP has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “neutral” rating on shares of Teekay Lng Partners in a report on Tuesday, November 20th. Morgan Stanley upgraded shares of Teekay Lng Partners from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $17.50 to $16.00 in a report on Tuesday, January 22nd. ValuEngine cut shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research upgraded shares of Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a report on Saturday, December 1st. Finally, Wells Fargo & Co cut their price target on shares of Teekay Lng Partners from $22.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, November 21st.

TGP traded up $0.37 during midday trading on Wednesday, reaching $12.79. The company’s stock had a trading volume of 7,699 shares, compared to its average volume of 216,495. The stock has a market cap of $993.78 million, a PE ratio of 12.76 and a beta of 1.52. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.72 and a current ratio of 0.72. Teekay Lng Partners has a 1 year low of $10.74 and a 1 year high of $19.45.

Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings results on Thursday, November 15th. The shipping company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.18). Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%. The firm had revenue of $115.38 million for the quarter, compared to analysts’ expectations of $125.21 million. Equities research analysts predict that Teekay Lng Partners will post 0.84 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Friday, February 1st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Thursday, January 31st. Teekay Lng Partners’s payout ratio is 56.00%.

Institutional investors have recently modified their holdings of the stock. Banco de Sabadell S.A lifted its position in Teekay Lng Partners by 188.1% during the third quarter. Banco de Sabadell S.A now owns 6,914 shares of the shipping company’s stock valued at $112,000 after purchasing an additional 4,514 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Teekay Lng Partners in the 4th quarter worth about $116,000. Virtu Financial LLC bought a new stake in shares of Teekay Lng Partners in the 4th quarter worth about $121,000. LPL Financial LLC bought a new stake in shares of Teekay Lng Partners in the 3rd quarter worth about $218,000. Finally, Valmark Advisers Inc. lifted its holdings in shares of Teekay Lng Partners by 12.5% in the 4th quarter. Valmark Advisers Inc. now owns 15,199 shares of the shipping company’s stock worth $167,000 after acquiring an additional 1,690 shares during the last quarter. Institutional investors own 34.87% of the company’s stock.

About Teekay Lng Partners

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.

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Analyst Recommendations for Teekay Lng Partners (NYSE:TGP)

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