GasLog LP. (GLOG) Receives Average Recommendation of “Buy” from Analysts
Shares of GasLog LP. (NYSE:GLOG) have been given a consensus recommendation of “Buy” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.98.
GLOG has been the subject of a number of recent research reports. BidaskClub upgraded GasLog LP. from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Jefferies Group LLC restated a “buy” rating and issued a $20.00 price target on shares of GasLog LP. in a report on Thursday, August 3rd. Zacks Investment Research upgraded GasLog LP. from a “sell” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine upgraded GasLog LP. from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, DNB Markets cut GasLog LP. from a “buy” rating to a “hold” rating and set a $17.80 price target for the company. in a report on Wednesday.
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Shares of GasLog LP. (GLOG) remained flat at $16.85 during midday trading on Friday. 340,280 shares of the stock traded hands. The firm has a 50-day moving average of $16.74 and a 200-day moving average of $15.27. The company’s market cap is $1.35 billion. GasLog LP. has a 12 month low of $12.70 and a 12 month high of $18.35.
GasLog LP. (NYSE:GLOG) last posted its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $129.90 million for the quarter, compared to analysts’ expectations of $128.14 million. GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, equities research analysts predict that GasLog LP. will post $0.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Monday, August 14th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.32%. The ex-dividend date was Thursday, August 10th. GasLog LP.’s dividend payout ratio (DPR) is -800.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frontier Capital Management Co. LLC acquired a new position in shares of GasLog LP. in the 1st quarter valued at about $13,445,000. Capital Management Associates NY acquired a new position in shares of GasLog LP. in the 2nd quarter valued at about $290,000. Pinnacle Associates Ltd. lifted its stake in shares of GasLog LP. by 14.1% in the 1st quarter. Pinnacle Associates Ltd. now owns 44,677 shares of the shipping company’s stock valued at $686,000 after purchasing an additional 5,504 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of GasLog LP. by 108.0% in the 1st quarter. Russell Investments Group Ltd. now owns 26,000 shares of the shipping company’s stock valued at $399,000 after purchasing an additional 13,500 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its stake in shares of GasLog LP. by 40.8% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 509,547 shares of the shipping company’s stock valued at $7,760,000 after purchasing an additional 147,547 shares in the last quarter. 48.51% of the stock is currently owned by institutional investors and hedge funds.
About GasLog LP.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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