Teekay LNG Partners (NYSE:TGP) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Teekay LNG Partners (NYSE:TGP) from a sell rating to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

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. “

TGP has been the topic of a number of other research reports. B. Riley downgraded Teekay LNG Partners from a buy rating to a neutral rating in a research note on Monday, October 4th. Jefferies Financial Group set a $15.03 target price on Teekay LNG Partners and gave the stock a neutral rating in a report on Tuesday, July 13th. Jonestrading cut Teekay LNG Partners from a buy rating to a hold rating in a report on Monday, October 4th. Finally, Stifel Nicolaus cut Teekay LNG Partners from a buy rating to a hold rating and decreased their target price for the stock from $18.00 to $17.00 in a report on Tuesday, October 5th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $16.01.

TGP opened at $17.18 on Wednesday. Teekay LNG Partners has a one year low of $10.12 and a one year high of $17.24. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.37 and a current ratio of 0.37. The stock’s fifty day moving average is $15.30 and its 200-day moving average is $15.11. The company has a market capitalization of $1.49 billion, a PE ratio of 7.99 and a beta of 1.24.

Teekay LNG Partners (NYSE:TGP) last posted its quarterly earnings data on Thursday, August 5th. The shipping company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.06). Teekay LNG Partners had a return on equity of 15.62% and a net margin of 35.78%. The firm had revenue of $142.41 million during the quarter, compared to the consensus estimate of $139.53 million. On average, equities research analysts forecast that Teekay LNG Partners will post 2.45 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, August 5th were issued a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date of this dividend was Wednesday, August 4th. Teekay LNG Partners’s payout ratio is 46.94%.

Hedge funds have recently modified their holdings of the company. McIlrath & Eck LLC purchased a new position in shares of Teekay LNG Partners during the second quarter valued at $30,000. Koshinski Asset Management Inc. purchased a new position in shares of Teekay LNG Partners during the third quarter valued at $56,000. Capital Analysts LLC purchased a new position in shares of Teekay LNG Partners during the first quarter valued at $82,000. Wexford Capital LP purchased a new position in shares of Teekay LNG Partners during the second quarter valued at $151,000. Finally, Advisor Group Holdings Inc. grew its holdings in shares of Teekay LNG Partners by 8.3% during the second quarter. Advisor Group Holdings Inc. now owns 11,153 shares of the shipping company’s stock valued at $169,000 after buying an additional 855 shares in the last quarter. Institutional investors and hedge funds own 21.45% of the company’s stock.

Teekay LNG Partners Company Profile

Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: LNG, LPG and conventional tanker. The company was founded on November 3, 2004 and is headquartered in Hamilton, Bermuda.

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