Zacks Investment Research lowered shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday.

According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “

A number of other equities research analysts have also recently weighed in on HMLP. ValuEngine cut Hoegh LNG Partners from a buy rating to a hold rating in a report on Friday, June 2nd. Morgan Stanley reaffirmed an overweight rating and set a $20.50 price target (down previously from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. BidaskClub raised Hoegh LNG Partners from a sell rating to a hold rating in a report on Saturday, July 8th. Barclays PLC raised Hoegh LNG Partners from an equal weight rating to an overweight rating and lifted their price target for the company from $21.00 to $22.00 in a report on Tuesday, July 18th. Finally, TheStreet raised Hoegh LNG Partners from a d rating to a c+ rating in a report on Monday, August 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Hoegh LNG Partners presently has an average rating of Hold and a consensus target price of $21.30.

Shares of Hoegh LNG Partners (NASDAQ:HMLP) opened at 18.55 on Tuesday. Hoegh LNG Partners has a 12-month low of $17.05 and a 12-month high of $20.65. The company’s 50-day moving average price is $18.99 and its 200 day moving average price is $19.31. The firm has a market capitalization of $610.67 million and a price-to-earnings ratio of 9.11.

Hoegh LNG Partners (NASDAQ:HMLP) last released its quarterly earnings results on Thursday, August 24th. The shipping company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by $0.08. The business had revenue of $35.02 million for the quarter, compared to the consensus estimate of $31.94 million. Hoegh LNG Partners had a net margin of 106.97% and a return on equity of 33.57%. On average, equities research analysts forecast that Hoegh LNG Partners will post $1.49 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Thursday, August 3rd were issued a dividend of $0.43 per share. The ex-dividend date was Tuesday, August 1st. This represents a $1.72 annualized dividend and a yield of 9.27%.

A number of large investors have recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP boosted its stake in shares of Hoegh LNG Partners by 1.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after buying an additional 43,400 shares during the last quarter. FMR LLC boosted its stake in shares of Hoegh LNG Partners by 2.5% in the second quarter. FMR LLC now owns 1,448,061 shares of the shipping company’s stock valued at $27,730,000 after buying an additional 35,806 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Hoegh LNG Partners during the first quarter valued at approximately $2,835,000. Renaissance Technologies LLC boosted its stake in shares of Hoegh LNG Partners by 70.0% in the first quarter. Renaissance Technologies LLC now owns 112,097 shares of the shipping company’s stock valued at $2,203,000 after buying an additional 46,140 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Hoegh LNG Partners by 179.6% in the first quarter. Bank of America Corp DE now owns 108,659 shares of the shipping company’s stock valued at $2,135,000 after buying an additional 69,793 shares during the last quarter.

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.

Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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