CNA Financial Corp increased its position in Hoegh LNG Partners LP (NYSE:HMLP) by 20.7% in the fourth quarter, Holdings Channel reports. The fund owned 30,967 shares of the shipping company’s stock after purchasing an additional 5,318 shares during the period. CNA Financial Corp’s holdings in Hoegh LNG Partners were worth $578,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FNY Partners Fund LP purchased a new stake in Hoegh LNG Partners during the 4th quarter valued at $214,000. Stifel Financial Corp raised its stake in Hoegh LNG Partners by 3.3% during the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after buying an additional 591 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Hoegh LNG Partners during the 4th quarter valued at $475,000. M&T Bank Corp purchased a new stake in Hoegh LNG Partners during the 4th quarter valued at $812,000. Finally, Taylor Frigon Capital Management LLC purchased a new stake in Hoegh LNG Partners during the 4th quarter valued at $1,016,000. Institutional investors own 64.57% of the company’s stock.
Shares of Hoegh LNG Partners LP (NYSE HMLP) opened at $18.00 on Thursday. The firm has a market cap of $348.99, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.63 and a current ratio of 0.64. Hoegh LNG Partners LP has a 12 month low of $16.75 and a 12 month high of $20.65.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Thursday, February 1st were paid a $0.43 dividend. The ex-dividend date of this dividend was Wednesday, January 31st. This represents a $1.72 annualized dividend and a dividend yield of 9.56%. Hoegh LNG Partners’s dividend payout ratio (DPR) is 109.55%.
A number of brokerages have weighed in on HMLP. Zacks Investment Research lowered shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Morgan Stanley decreased their target price on shares of Hoegh LNG Partners from $20.50 to $20.00 and set an “overweight” rating for the company in a research note on Monday. Finally, ValuEngine lowered shares of Hoegh LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.33.
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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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