Creative Planning reduced its stake in shares of Teekay LNG Partners L.P. (NYSE:TGP) by 8.1% during the second quarter, Holdings Channel reports. The institutional investor owned 7,924 shares of the shipping company’s stock after selling 695 shares during the period. Creative Planning’s holdings in Teekay LNG Partners L.P. were worth $122,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. 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. Thornburg Investment Management Inc. increased its position in shares of Teekay LNG Partners L.P. by 50.4% in the first quarter. Thornburg Investment Management Inc. now owns 1,189,643 shares of the shipping company’s stock worth $20,878,000 after buying an additional 398,691 shares during the last quarter. Credit Suisse AG increased its position in shares of Teekay LNG Partners L.P. by 145.9% in the first quarter. Credit Suisse AG now owns 563,872 shares of the shipping company’s stock worth $9,896,000 after buying an additional 334,589 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Teekay LNG Partners L.P. during the first quarter worth about $4,144,000. Finally, Lansdowne Partners UK LLP purchased a new position in shares of Teekay LNG Partners L.P. during the first quarter worth about $3,558,000. Institutional investors and hedge funds own 43.51% of the company’s stock.

Teekay LNG Partners L.P. (TGP) traded down 2.96% during mid-day trading on Tuesday, reaching $17.71. 66,321 shares of the company’s stock traded hands. The stock has a market capitalization of $1.41 billion, a PE ratio of 10.38 and a beta of 1.20. The stock’s 50 day moving average is $17.27 and its 200-day moving average is $17.09. Teekay LNG Partners L.P. has a 52 week low of $12.40 and a 52 week high of $19.90.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.12. The business had revenue of $99.91 million for the quarter, compared to analysts’ expectations of $103.31 million. Teekay LNG Partners L.P. had a return on equity of 6.12% and a net margin of 38.28%. On average, equities analysts anticipate that Teekay LNG Partners L.P. will post $1.69 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Friday, August 4th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.07%. Teekay LNG Partners L.P.’s dividend payout ratio (DPR) is presently 32.75%.

TRADEMARK VIOLATION NOTICE: “Creative Planning Sells 695 Shares of Teekay LNG Partners L.P. (TGP)” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this piece on another website, it was illegally stolen and reposted in violation of U.S. & international copyright legislation. The original version of this piece can be viewed at https://www.watchlistnews.com/creative-planning-sells-695-shares-of-teekay-lng-partners-l-p-tgp/1491939.html.

TGP has been the topic of a number of analyst reports. ValuEngine raised shares of Teekay LNG Partners L.P. from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet raised shares of Teekay LNG Partners L.P. from a “c” rating to a “b-” rating in a research report on Thursday, May 18th. Zacks Investment Research raised shares of Teekay LNG Partners L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a research report on Tuesday, May 30th. Finally, BidaskClub raised shares of Teekay LNG Partners L.P. from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target 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.

Want to see what other hedge funds are holding TGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teekay LNG Partners L.P. (NYSE:TGP).

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

Receive News & Ratings for Teekay LNG Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay LNG Partners L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.