Zacks Investment Research downgraded shares of Teekay LNG Partners L.P. (NYSE:TGP) from a hold rating to a strong sell rating in a research note released on Friday.

According to Zacks, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. “

A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Teekay LNG Partners L.P. from a hold rating to a buy rating in a report on Friday, June 2nd. TheStreet upgraded shares of Teekay LNG Partners L.P. from a c rating to a b- rating in a report on Thursday, May 18th. Jefferies Group LLC reiterated a hold rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a report on Tuesday, May 30th. BidaskClub upgraded shares of Teekay LNG Partners L.P. from a strong sell rating to a sell rating in a report on Friday, June 30th. Finally, Stifel Nicolaus reissued a hold rating and set a $16.00 target price on shares of Teekay LNG Partners L.P. in a research report on Thursday, July 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $16.60.

Shares of Teekay LNG Partners L.P. (TGP) opened at 18.85 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.64 and a beta of 1.16. Teekay LNG Partners L.P. has a one year low of $9.47 and a one year high of $19.90. The company’s 50 day moving average is $16.28 and its 200 day moving average is $17.03.

Teekay LNG Partners L.P. (NYSE:TGP) last issued its quarterly earnings data on Thursday, May 18th. The shipping company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.14. The business had revenue of $101.18 million during the quarter, compared to the consensus estimate of $104.31 million. Teekay LNG Partners L.P. had a return on equity of 8.49% and a net margin of 53.15%. Equities research analysts predict that Teekay LNG Partners L.P. will post $1.64 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Friday, August 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, August 2nd. Teekay LNG Partners L.P.’s dividend payout ratio is 22.67%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC raised its position in shares of Teekay LNG Partners L.P. by 2.9% in the first quarter. Global X Management Co. LLC now owns 19,822 shares of the shipping company’s stock worth $348,000 after buying an additional 564 shares in the last quarter. OppenheimerFunds Inc. raised its position in shares of Teekay LNG Partners L.P. by 2.1% in the first quarter. OppenheimerFunds Inc. now owns 5,011,817 shares of the shipping company’s stock worth $87,958,000 after buying an additional 105,400 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Teekay LNG Partners L.P. during the first quarter worth approximately $4,144,000. Alliancebernstein L.P. bought a new position in shares of Teekay LNG Partners L.P. during the first quarter worth approximately $221,000. Finally, Blair William & Co. IL bought a new position in shares of Teekay LNG Partners L.P. during the first quarter worth approximately $218,000. 45.59% of the stock is owned by institutional investors and hedge funds.

Teekay LNG Partners L.P. Company Profile

Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.

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Analyst Recommendations for Teekay LNG Partners L.P. (NYSE:TGP)

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