Hoegh LNG Partners LP (HMLP) Lifted to “Sell” at BidaskClub
BidaskClub upgraded shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a strong sell rating to a sell rating in a research report released on Thursday.
A number of other analysts also recently commented on the company. Zacks Investment Research downgraded Hoegh LNG Partners from a hold rating to a strong sell rating in a research report on Tuesday, August 29th. Citigroup Inc. boosted their price objective on Hoegh LNG Partners from $21.00 to $22.00 and gave the company a buy rating in a research report on Friday, August 25th. TheStreet upgraded Hoegh LNG Partners from a d rating to a c+ rating in a research report on Monday, August 7th. Barclays PLC upgraded Hoegh LNG Partners from an equal weight rating to an overweight rating and upped their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 18th. Finally, Morgan Stanley restated an overweight rating and issued a $20.50 target price (down from $22.00) on shares of Hoegh LNG Partners in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $21.30.
Shares of Hoegh LNG Partners (NASDAQ HMLP) opened at 18.55 on Thursday. The company has a market cap of $610.67 million and a price-to-earnings ratio of 9.11. Hoegh LNG Partners has a 1-year low of $17.05 and a 1-year high of $20.65. The firm’s 50-day moving average is $18.52 and its 200 day moving average is $19.19.
Hoegh LNG Partners (NASDAQ:HMLP) last released its earnings results on Thursday, August 24th. The shipping company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Hoegh LNG Partners had a return on equity of 13.48% and a net margin of 34.87%. The firm had revenue of $35.02 million for the quarter, compared to analyst estimates of $31.94 million. Equities analysts expect that Hoegh LNG Partners will post $1.48 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new stake in Hoegh LNG Partners during the first quarter valued at approximately $2,835,000. Bank of America Corp DE grew its stake in shares of Hoegh LNG Partners by 179.6% in the 1st quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock valued at $2,135,000 after purchasing an additional 69,793 shares during the period. Green Square Capital LLC grew its stake in shares of Hoegh LNG Partners by 204.6% in the 1st quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock valued at $1,462,000 after purchasing an additional 49,983 shares during the period. Renaissance Technologies LLC grew its stake in shares of Hoegh LNG Partners by 70.0% in the 1st quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock valued at $2,203,000 after purchasing an additional 46,140 shares during the period. Finally, Kayne Anderson Capital Advisors LP grew its stake in shares of Hoegh LNG Partners by 1.9% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after purchasing an additional 43,400 shares during the period.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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