Research Analysts Issue Forecasts for Hoegh LNG Partners LP’s FY2017 Earnings (HMLP)
Hoegh LNG Partners LP (NYSE:HMLP) – Stock analysts at Seaport Global Securities dropped their FY2017 earnings per share estimates for shares of Hoegh LNG Partners in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst S. Sibal now anticipates that the shipping company will earn $1.33 per share for the year, down from their prior estimate of $1.48.
Hoegh LNG Partners (NYSE:HMLP) last announced its earnings results on Thursday, August 24th. The shipping company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.08). Hoegh LNG Partners had a net margin of 38.90% and a return on equity of 7.77%. The firm had revenue of $35.02 million for the quarter, compared to analysts’ expectations of $31.94 million.
A number of other equities analysts have also recently commented on HMLP. Zacks Investment Research cut Hoegh LNG Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 25th. BidaskClub cut Hoegh LNG Partners from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. TheStreet upgraded Hoegh LNG Partners from a “d” rating to a “c+” rating in a report on Monday, August 7th. Citigroup Inc. raised their target price on Hoegh LNG Partners from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, August 25th. Finally, ValuEngine upgraded Hoegh LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. Hoegh LNG Partners has an average rating of “Buy” and an average target price of $21.63.
Hoegh LNG Partners (HMLP) opened at $17.45 on Monday. Hoegh LNG Partners has a twelve month low of $16.90 and a twelve month high of $20.65. The company has a market capitalization of $346.87, a PE ratio of 16.56, a P/E/G ratio of 0.72 and a beta of 0.98. The company has a current ratio of 0.64, a quick ratio of 0.63 and a debt-to-equity ratio of 1.01.
A number of hedge funds have recently bought and sold shares of the business. Stifel Financial Corp raised its position in Hoegh LNG Partners by 3.3% in the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after purchasing an additional 591 shares in the last quarter. UBS Group AG raised its position in shares of Hoegh LNG Partners by 27.1% during the 1st quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock worth $182,000 after acquiring an additional 1,978 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Hoegh LNG Partners by 341.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock worth $100,000 after acquiring an additional 4,037 shares in the last quarter. BB&T Corp acquired a new stake in shares of Hoegh LNG Partners during the 2nd quarter worth about $192,000. Finally, Forward Management LLC raised its position in shares of Hoegh LNG Partners by 125.8% during the 2nd quarter. Forward Management LLC now owns 20,100 shares of the shipping company’s stock worth $385,000 after acquiring an additional 11,200 shares in the last quarter. 67.12% of the stock is currently owned by institutional investors.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Shareholders of record on Thursday, November 2nd were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 9.86%. The ex-dividend date was Wednesday, November 1st. Hoegh LNG Partners’s dividend payout ratio is currently 109.55%.
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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