Teekay Lng Partners, L.P. (TGP) Expected to Post Quarterly Sales of $137.08 Million
Equities analysts expect Teekay Lng Partners, L.P. (NYSE:TGP) to post $137.08 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Teekay Lng Partners’ earnings. The highest sales estimate is $142.80 million and the lowest is $132.75 million. Teekay Lng Partners reported sales of $122.00 million during the same quarter last year, which indicates a positive year over year growth rate of 12.4%. The firm is expected to report its next earnings report on Thursday, February 28th.
On average, analysts expect that Teekay Lng Partners will report full-year sales of $483.21 million for the current financial year, with estimates ranging from $468.60 million to $503.80 million. For the next year, analysts anticipate that the company will post sales of $585.26 million, with estimates ranging from $540.67 million to $617.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last posted its quarterly earnings data on Thursday, November 15th. The shipping company reported $0.16 earnings per share 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.
NYSE:TGP opened at $13.09 on Friday. Teekay Lng Partners has a twelve month low of $12.19 and a twelve month 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 stock has a market cap of $1.08 billion, a PE ratio of 13.09 and a beta of 1.33.
The company also recently announced a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, November 2nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, November 1st. Teekay Lng Partners’s payout ratio is 56.00%.
Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Teekay Lng Partners by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 3,351,479 shares of the shipping company’s stock worth $55,970,000 after buying an additional 97,786 shares during the period. Morgan Stanley boosted its holdings in shares of Teekay Lng Partners by 1.5% during the second quarter. Morgan Stanley now owns 2,201,623 shares of the shipping company’s stock worth $37,097,000 after purchasing an additional 31,659 shares during the period. Royce & Associates LP boosted its holdings in shares of Teekay Lng Partners by 805.4% during the third quarter. Royce & Associates LP now owns 609,180 shares of the shipping company’s stock worth $10,173,000 after purchasing an additional 541,900 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Teekay Lng Partners by 69.2% during the third quarter. Renaissance Technologies LLC now owns 352,500 shares of the shipping company’s stock worth $5,887,000 after purchasing an additional 144,200 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Teekay Lng Partners by 21.2% during the third quarter. Wells Fargo & Company MN now owns 193,278 shares of the shipping company’s stock worth $3,228,000 after purchasing an additional 33,799 shares during the period. Institutional investors own 34.09% of the company’s stock.
Teekay Lng Partners Company Profile
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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