Zacks Investment Research Downgrades Golar LNG Partners (GMLP) to Sell

Golar LNG Partners (NASDAQ:GMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

A number of other research firms also recently weighed in on GMLP. ValuEngine downgraded Golar LNG Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Jefferies Group reaffirmed a “buy” rating and issued a $26.00 price target on shares of Golar LNG Partners in a report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Golar LNG Partners in a report on Friday, September 22nd. ABN Amro started coverage on Golar LNG Partners in a report on Monday, October 30th. They issued a “buy” rating on the stock. Finally, BidaskClub raised Golar LNG Partners from a “sell” rating to a “hold” rating in a report on Thursday, December 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.75.

Golar LNG Partners (GMLP) traded down $0.10 on Tuesday, reaching $23.09. The company’s stock had a trading volume of 165,987 shares, compared to its average volume of 296,410. The firm has a market capitalization of $1,600.00, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.87. The company has a debt-to-equity ratio of 1.95, a current ratio of 1.01 and a quick ratio of 1.00. Golar LNG Partners has a 12-month low of $18.77 and a 12-month high of $25.82.

A number of large investors have recently made changes to their positions in GMLP. Alliancebernstein L.P. raised its stake in Golar LNG Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock valued at $205,000 after purchasing an additional 572 shares during the period. Rafferty Asset Management LLC acquired a new position in shares of Golar LNG Partners in the second quarter worth $2,821,000. Northern Trust Corp increased its stake in shares of Golar LNG Partners by 15.6% in the second quarter. Northern Trust Corp now owns 62,288 shares of the shipping company’s stock worth $1,249,000 after acquiring an additional 8,405 shares during the last quarter. FMR LLC increased its stake in shares of Golar LNG Partners by 4.7% in the second quarter. FMR LLC now owns 1,251,660 shares of the shipping company’s stock worth $25,121,000 after acquiring an additional 55,760 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Golar LNG Partners by 0.4% in the second quarter. California Public Employees Retirement System now owns 168,300 shares of the shipping company’s stock worth $3,378,000 after acquiring an additional 600 shares during the last quarter. 46.85% of the stock is currently owned by institutional investors.

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Golar LNG Partners Company Profile

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.

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