Royce & Associates LP lifted its position in Teekay Lng Partners, L.P. (NYSE:TGP) by 805.4% in the third quarter, HoldingsChannel reports. The firm owned 609,180 shares of the shipping company’s stock after purchasing an additional 541,900 shares during the quarter. Royce & Associates LP’s holdings in Teekay Lng Partners were worth $10,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gator Capital Management LLC boosted its position in shares of Teekay Lng Partners by 17.0% during the third quarter. Gator Capital Management LLC now owns 55,030 shares of the shipping company’s stock worth $371,000 after acquiring an additional 8,000 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Teekay Lng Partners during the second quarter worth $546,000. Russell Investments Group Ltd. bought a new position in shares of Teekay Lng Partners during the second quarter worth $608,000. California Public Employees Retirement System boosted its position in shares of Teekay Lng Partners by 8.0% during the second quarter. California Public Employees Retirement System now owns 62,621 shares of the shipping company’s stock worth $1,055,000 after acquiring an additional 4,660 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Teekay Lng Partners by 394.7% during the third quarter. ING Groep NV now owns 84,600 shares of the shipping company’s stock worth $1,413,000 after acquiring an additional 67,500 shares during the last quarter. 34.09% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on TGP shares. Jefferies Financial Group reiterated a “neutral” rating on shares of Teekay Lng Partners in a research report on Tuesday, November 20th. Zacks Investment Research upgraded shares of Teekay Lng Partners from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 9th. Wells Fargo & Co lowered their price objective on shares of Teekay Lng Partners from $22.00 to $15.00 and set an “outperform” rating for the company in a research report on Wednesday, November 21st. ValuEngine upgraded shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. Finally, TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Monday, November 26th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Teekay Lng Partners presently has a consensus rating of “Hold” and an average price target of $17.75.

TGP stock opened at $13.11 on Friday. Teekay Lng Partners, L.P. has a 52 week low of $12.19 and a 52 week high of $21.65. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 13.11 and a beta of 1.33.

Teekay Lng Partners (NYSE:TGP) last released its quarterly earnings data on Thursday, November 15th. The shipping company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.18). Teekay Lng Partners had a net margin of 18.92% and a return on equity of 5.75%. The business had revenue of $115.38 million for the quarter, compared to the consensus estimate of $125.21 million. Research analysts anticipate that Teekay Lng Partners, L.P. will post 0.83 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, November 2nd were given a dividend of $0.14 per share. The ex-dividend date was Thursday, November 1st. This represents a $0.56 annualized dividend and a yield of 4.27%. Teekay Lng Partners’s dividend payout ratio (DPR) is currently 56.00%.

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About Teekay Lng Partners

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

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Institutional Ownership by Quarter for Teekay Lng Partners (NYSE:TGP)

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