Teekay LNG Partners L.P. (TGP) Plans Quarterly Dividend of $0.14
Teekay LNG Partners L.P. (NYSE:TGP) declared a quarterly dividend on Wednesday, October 4th, Wall Street Journal reports. Stockholders of record on Friday, November 3rd will be paid a dividend of 0.14 per share by the shipping company on Friday, November 10th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, November 2nd.
Teekay LNG Partners L.P. has decreased its dividend payment by an average of 40.8% per year over the last three years. Teekay LNG Partners L.P. has a dividend payout ratio of 44.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Teekay LNG Partners L.P. to earn $2.01 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 27.9%.
Teekay LNG Partners L.P. (TGP) traded up 1.97% during mid-day trading on Wednesday, hitting $18.10. The stock had a trading volume of 177,185 shares. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 10.59 and a beta of 1.25. The company has a 50-day moving average of $17.16 and a 200-day moving average of $16.80. Teekay LNG Partners L.P. has a 12-month low of $13.06 and a 12-month high of $19.90.
Teekay LNG Partners L.P. (NYSE:TGP) last posted its earnings results on Thursday, August 3rd. The shipping company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.12). Teekay LNG Partners L.P. had a net margin of 38.28% and a return on equity of 6.12%. The firm had revenue of $99.91 million for the quarter, compared to analyst estimates of $103.31 million. On average, analysts anticipate that Teekay LNG Partners L.P. will post $1.47 earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on the company. BidaskClub downgraded Teekay LNG Partners L.P. from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 14th. Stifel Nicolaus reissued a “hold” rating and issued a $16.00 price objective on shares of Teekay LNG Partners L.P. in a report on Thursday, July 6th. ValuEngine upgraded Teekay LNG Partners L.P. from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 8th. Zacks Investment Research cut Teekay LNG Partners L.P. from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. Finally, TheStreet downgraded Teekay LNG Partners L.P. from a “b-” rating to a “c” rating in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.60.
About Teekay LNG Partners L.P.
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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