BidaskClub downgraded shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

A number of other research analysts also recently weighed in on GMLP. Zacks Investment Research upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a report on Wednesday, November 7th. ValuEngine downgraded shares of Golar LNG Partners from a sell rating to a strong sell rating in a report on Friday, November 16th. Berenberg Bank assumed coverage on shares of Golar LNG Partners in a report on Thursday, September 6th. They set a hold rating and a $13.00 price target on the stock. DNB Markets upgraded shares of Golar LNG Partners from a sell rating to a hold rating in a report on Wednesday, November 7th. Finally, Bank of America upgraded shares of Golar LNG Partners from an underperform rating to a neutral rating in a report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $18.75.

GMLP stock traded down $0.20 during midday trading on Wednesday, reaching $11.79. The company had a trading volume of 7,943 shares, compared to its average volume of 385,807. Golar LNG Partners has a 1 year low of $11.84 and a 1 year 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 company has a market cap of $854.73 million, a price-to-earnings ratio of 6.27, a PEG ratio of 1.51 and a beta of 0.87.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Monday, November 5th. The shipping company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.39. The business had revenue of $108.23 million for the quarter, compared to the consensus estimate of $89.64 million. Golar LNG Partners had a net margin of 32.94% and a return on equity of 16.95%. On average, research analysts anticipate that Golar LNG Partners will post 1 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th were issued a $0.404 dividend. The ex-dividend date was Tuesday, November 6th. This represents a $1.62 annualized dividend and a yield of 13.71%. Golar LNG Partners’s dividend payout ratio (DPR) is presently 86.17%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. raised its holdings in Golar LNG Partners by 28.4% in the 2nd quarter. Wedbush Securities Inc. now owns 18,926 shares of the shipping company’s stock worth $293,000 after acquiring an additional 4,181 shares during the period. Alps Advisors Inc. bought a new position in Golar LNG Partners in the 2nd quarter worth $490,000. Old Port Advisors bought a new position in Golar LNG Partners in the 2nd quarter worth $465,000. Arrow Investment Advisors LLC raised its holdings in Golar LNG Partners by 12.6% in the 3rd quarter. Arrow Investment Advisors LLC now owns 31,172 shares of the shipping company’s stock worth $447,000 after acquiring an additional 3,500 shares during the period. Finally, Wasatch Advisors Inc. raised its holdings in Golar LNG Partners by 13.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 34,300 shares of the shipping company’s stock worth $530,000 after acquiring an additional 4,000 shares during the period. Hedge funds and other institutional investors own 37.61% of the company’s stock.

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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