California Public Employees Retirement System Decreases Holdings in Teekay LNG Partners L.P. (TGP)
California Public Employees Retirement System lowered its position in Teekay LNG Partners L.P. (NYSE:TGP) by 4.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 61,700 shares of the shipping company’s stock after selling 2,600 shares during the period. California Public Employees Retirement System owned 0.08% of Teekay LNG Partners L.P. worth $947,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in TGP. Alliancebernstein L.P. purchased a new position in Teekay LNG Partners L.P. in the 1st quarter valued at $221,000. Renaissance Technologies LLC purchased a new position in Teekay LNG Partners L.P. in the 1st quarter valued at $670,000. Bank of America Corp DE lifted its holdings in Teekay LNG Partners L.P. by 135.8% in the 1st quarter. Bank of America Corp DE now owns 69,071 shares of the shipping company’s stock valued at $1,212,000 after purchasing an additional 39,781 shares in the last quarter. Beach Investment Management LLC. purchased a new position in Teekay LNG Partners L.P. in the 2nd quarter valued at $524,000. Finally, Airain ltd lifted its holdings in Teekay LNG Partners L.P. by 14.9% in the 2nd quarter. Airain ltd now owns 167,745 shares of the shipping company’s stock valued at $2,575,000 after purchasing an additional 21,699 shares in the last quarter. Institutional investors own 37.56% of the company’s stock.
Several research firms have recently commented on TGP. UBS AG reduced their price target on Teekay LNG Partners L.P. from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Friday. ValuEngine lowered Teekay LNG Partners L.P. from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded Teekay LNG Partners L.P. from a “strong sell” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus reiterated a “hold” rating and set a $16.00 price target on shares of Teekay LNG Partners L.P. in a report on Friday, October 13th. Finally, TheStreet lowered Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Teekay LNG Partners L.P. currently has an average rating of “Hold” and an average target price of $17.50.
Teekay LNG Partners L.P. (NYSE:TGP) opened at $17.65 on Tuesday. Teekay LNG Partners L.P. has a fifty-two week low of $13.30 and a fifty-two week high of $19.90. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1,433.28, a price-to-earnings ratio of 20.69 and a beta of 1.26.
The business also recently declared a quarterly dividend, which was paid on Friday, November 10th. Stockholders of record on Friday, November 3rd were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, November 2nd. This represents a $0.56 annualized dividend and a dividend yield of 3.17%. Teekay LNG Partners L.P.’s dividend payout ratio is presently 68.29%.
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About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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