California Public Employees Retirement System lowered its stake in Teekay LNG Partners L.P. (NYSE:TGP) by 1.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,300 shares of the shipping company’s stock after selling 1,000 shares during the period. California Public Employees Retirement System’s holdings in Teekay LNG Partners L.P. were worth $1,128,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Creative Planning raised its stake in Teekay LNG Partners L.P. by 17.4% in the first quarter. Creative Planning now owns 8,619 shares of the shipping company’s stock valued at $151,000 after buying an additional 1,275 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Teekay LNG Partners L.P. by 63.6% in the first quarter. JPMorgan Chase & Co. now owns 2,205,542 shares of the shipping company’s stock valued at $38,707,000 after buying an additional 857,458 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Teekay LNG Partners L.P. by 2.1% in the first quarter. OppenheimerFunds Inc. now owns 5,011,817 shares of the shipping company’s stock valued at $87,958,000 after buying an additional 105,400 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Teekay LNG Partners L.P. during the first quarter valued at about $4,144,000. Finally, Beach Investment Counsel Inc. PA raised its stake in Teekay LNG Partners L.P. by 55.6% in the first quarter. Beach Investment Counsel Inc. PA now owns 34,108 shares of the shipping company’s stock valued at $599,000 after buying an additional 12,190 shares in the last quarter. Institutional investors and hedge funds own 45.59% of the company’s stock.

Shares of Teekay LNG Partners L.P. (NYSE:TGP) traded up 0.40% during trading on Friday, hitting $17.77. The stock had a trading volume of 20,915 shares. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 10.42 and a beta of 1.20. Teekay LNG Partners L.P. has a 52 week low of $12.40 and a 52 week high of $19.90. The company’s 50 day moving average price is $17.04 and its 200 day moving average price is $17.12.

Teekay LNG Partners L.P. (NYSE:TGP) last announced its earnings results on Thursday, August 3rd. The shipping company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.12. Teekay LNG Partners L.P. had a return on equity of 6.12% and a net margin of 38.28%. The business had revenue of $99.91 million during the quarter, compared to analysts’ expectations of $103.31 million. Analysts predict that Teekay LNG Partners L.P. will post $1.69 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, August 4th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.16%. Teekay LNG Partners L.P.’s dividend payout ratio (DPR) is presently 32.75%.

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Several research firms have issued reports on TGP. Zacks Investment Research lowered Teekay LNG Partners L.P. from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. ValuEngine lowered Teekay LNG Partners L.P. from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. TheStreet lowered Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. Stifel Nicolaus restated a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a research note on Thursday, July 6th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a research note on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.60.

Teekay LNG Partners L.P. Company Profile

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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Institutional Ownership by Quarter for Teekay LNG Partners L.P. (NYSE:TGP)

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