Citigroup Inc. decreased its position in Teekay LNG Partners L.P. (NYSE:TGP) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,423 shares of the shipping company’s stock after selling 30,434 shares during the period. Citigroup Inc. owned approximately 0.33% of Teekay LNG Partners L.P. worth $4,090,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TGP. JPMorgan Chase & Co. boosted its stake in Teekay LNG Partners L.P. by 63.6% in the 1st quarter. JPMorgan Chase & Co. now owns 2,205,542 shares of the shipping company’s stock worth $38,707,000 after purchasing an additional 857,458 shares in the last quarter. Credit Suisse AG boosted its stake in Teekay LNG Partners L.P. by 145.9% in the 1st quarter. Credit Suisse AG now owns 563,872 shares of the shipping company’s stock worth $9,896,000 after purchasing an additional 334,589 shares in the last quarter. Van ECK Associates Corp bought a new position in Teekay LNG Partners L.P. in the 1st quarter worth about $4,144,000. Lansdowne Partners UK LLP bought a new position in Teekay LNG Partners L.P. in the 1st quarter worth about $3,558,000. Finally, OppenheimerFunds Inc. boosted its stake in Teekay LNG Partners L.P. by 2.1% in the 1st quarter. OppenheimerFunds Inc. now owns 5,011,817 shares of the shipping company’s stock worth $87,958,000 after purchasing an additional 105,400 shares in the last quarter. Institutional investors own 38.07% of the company’s stock.

TGP has been the topic of a number of analyst reports. BidaskClub upgraded shares of Teekay LNG Partners L.P. from a “strong sell” rating to a “sell” rating in a research note on Friday, June 30th. ValuEngine upgraded shares of Teekay LNG Partners L.P. from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research cut shares of Teekay LNG Partners L.P. from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. TheStreet cut shares of Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $16.00 target price on shares of Teekay LNG Partners L.P. in a research note on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Teekay LNG Partners L.P. presently has a consensus rating of “Hold” and an average price target of $16.60.

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Teekay LNG Partners L.P. (TGP) opened at 17.15 on Friday. The company has a market cap of $1.37 billion, a PE ratio of 10.04 and a beta of 1.22. Teekay LNG Partners L.P. has a 1-year low of $13.06 and a 1-year high of $19.90. The firm’s 50-day moving average is $17.35 and its 200 day moving average is $16.79.

Teekay LNG Partners L.P. (NYSE:TGP) last issued its quarterly earnings results on Thursday, August 3rd. The shipping company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $103.31 million. Analysts predict that Teekay LNG Partners L.P. will post $1.44 earnings per share for the current fiscal year.

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.

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

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