Teekay Lng Partners, L.P. (NYSE:TGP) was the target of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 636,000 shares, a decline of 22.3% from the July 15th total of 818,100 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 177,200 shares, the short-interest ratio is presently 3.6 days.
TGP has been the subject of a number of research analyst reports. ValuEngine lowered shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research lowered shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.
A number of hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC boosted its holdings in shares of Teekay Lng Partners by 109.4% during the first quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 853 shares during the period. SeaBridge Investment Advisors LLC boosted its holdings in shares of Teekay Lng Partners by 16.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock valued at $99,000 after acquiring an additional 1,000 shares during the period. Baldwin Investment Management LLC boosted its holdings in shares of Teekay Lng Partners by 10.2% during the first quarter. Baldwin Investment Management LLC now owns 21,540 shares of the shipping company’s stock valued at $322,000 after acquiring an additional 2,000 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Teekay Lng Partners during the first quarter valued at $30,000. Finally, Whittier Trust Co. acquired a new position in shares of Teekay Lng Partners during the first quarter valued at $34,000. Hedge funds and other institutional investors own 27.95% of the company’s stock.
Teekay Lng Partners (NYSE:TGP) last released its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.02. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The firm had revenue of $153.10 million during the quarter, compared to analyst estimates of $155.70 million. The business’s revenue was up 25.2% on a year-over-year basis. As a group, equities research analysts expect that Teekay Lng Partners will post 1.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, August 5th. This represents a $0.76 annualized dividend and a yield of 5.19%. Teekay Lng Partners’s payout ratio is 100.00%.
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The 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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