Hoegh LNG Partners (NYSE:HMLP) Raised to “Hold” at ValuEngine

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ValuEngine upgraded shares of Hoegh LNG Partners (NYSE:HMLP) from a sell rating to a hold rating in a research note published on Wednesday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. B. Riley set a $21.00 price target on shares of Hoegh LNG Partners and gave the company a buy rating in a report on Thursday, August 22nd. Zacks Investment Research raised shares of Hoegh LNG Partners from a sell rating to a hold rating in a report on Wednesday, August 7th. Citigroup reduced their price target on shares of Hoegh LNG Partners from $19.50 to $16.00 and set a buy rating on the stock in a report on Monday, August 26th. TheStreet downgraded shares of Hoegh LNG Partners from a b- rating to a c+ rating in a report on Thursday, August 8th. Finally, Barclays reduced their price target on shares of Hoegh LNG Partners from $20.00 to $18.00 and set an equal weight rating on the stock in a report on Friday, August 30th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Hoegh LNG Partners has a consensus rating of Hold and an average target price of $19.00.

HMLP stock opened at $16.28 on Wednesday. The company has a market cap of $522.27 million, a P/E ratio of 8.95, a P/E/G ratio of 9.04 and a beta of 1.01. Hoegh LNG Partners has a 52 week low of $14.05 and a 52 week high of $19.98. The company’s 50-day moving average price is $15.30 and its 200 day moving average price is $17.43. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.13.

Hoegh LNG Partners (NYSE:HMLP) last announced its quarterly earnings results on Thursday, August 22nd. The shipping company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.27). Hoegh LNG Partners had a net margin of 38.82% and a return on equity of 17.76%. The business had revenue of $33.78 million during the quarter, compared to analysts’ expectations of $35.27 million. During the same period last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, equities research analysts expect that Hoegh LNG Partners will post 1.45 earnings per share for the current year.

Several large investors have recently bought and sold shares of the company. Trustcore Financial Services LLC raised its position in shares of Hoegh LNG Partners by 14.8% in the second quarter. Trustcore Financial Services LLC now owns 7,000 shares of the shipping company’s stock valued at $121,000 after buying an additional 900 shares during the last quarter. Sigma Planning Corp raised its position in shares of Hoegh LNG Partners by 31.4% in the second quarter. Sigma Planning Corp now owns 29,129 shares of the shipping company’s stock valued at $504,000 after buying an additional 6,968 shares during the last quarter. Citadel Advisors LLC raised its position in shares of Hoegh LNG Partners by 38.9% in the second quarter. Citadel Advisors LLC now owns 32,009 shares of the shipping company’s stock valued at $554,000 after buying an additional 8,964 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Hoegh LNG Partners by 39.9% in the second quarter. Russell Investments Group Ltd. now owns 33,680 shares of the shipping company’s stock valued at $583,000 after buying an additional 9,612 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Hoegh LNG Partners by 81.8% in the second quarter. Commonwealth Equity Services LLC now owns 28,281 shares of the shipping company’s stock valued at $489,000 after buying an additional 12,726 shares during the last quarter. 22.90% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Hoegh LNG Partners (NYSE:HMLP)

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