Zacks Investment Research downgraded shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a hold rating to a strong sell rating in a research note published on Tuesday morning.

According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “

HMLP has been the subject of several other reports. ValuEngine lowered shares of Hoegh LNG Partners from a buy rating to a hold rating in a research note on Friday, June 2nd. Barclays PLC raised shares of Hoegh LNG Partners from an equal weight rating to an overweight rating and increased their target price for the company from $21.00 to $22.00 in a research note on Tuesday, July 18th. BidaskClub raised shares of Hoegh LNG Partners from a sell rating to a hold rating in a research note on Saturday, July 8th. Finally, Morgan Stanley reissued an overweight rating and set a $20.50 target price (down from $22.00) on shares of Hoegh LNG Partners in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $21.10.

Shares of Hoegh LNG Partners (NASDAQ HMLP) traded down 0.51% on Tuesday, hitting $19.65. 79,752 shares of the stock were exchanged. The company has a market cap of $646.70 million and a P/E ratio of 9.99. The firm’s 50-day moving average is $19.12 and its 200-day moving average is $19.40. Hoegh LNG Partners has a one year low of $17.05 and a one year high of $20.65.

Hoegh LNG Partners (NASDAQ:HMLP) last released its earnings results on Wednesday, May 24th. The shipping company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Hoegh LNG Partners had a net margin of 106.97% and a return on equity of 33.57%. The business had revenue of $35.08 million during the quarter, compared to analyst estimates of $30.17 million. On average, equities analysts forecast that Hoegh LNG Partners will post $1.64 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.43 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 8.75%.

Large investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP raised its stake in Hoegh LNG Partners by 25.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,254,053 shares of the shipping company’s stock worth $44,283,000 after buying an additional 460,400 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Hoegh LNG Partners during the first quarter worth about $2,835,000. Stifel Financial Corp purchased a new stake in Hoegh LNG Partners during the first quarter worth about $354,000. FMR LLC raised its stake in Hoegh LNG Partners by 32.5% in the fourth quarter. FMR LLC now owns 1,417,855 shares of the shipping company’s stock worth $26,940,000 after buying an additional 348,000 shares in the last quarter. Finally, Green Square Capital LLC raised its stake in Hoegh LNG Partners by 204.6% in the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock worth $1,462,000 after buying an additional 49,983 shares in the last quarter.

About Hoegh LNG Partners

Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.

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Analyst Recommendations for Hoegh LNG Partners (NASDAQ:HMLP)

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