Cushing Asset Management LP lessened its stake in GasLog Partners LP (NYSE:GLOP) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 979,764 shares of the shipping company’s stock after selling 167,424 shares during the period. Cushing Asset Management LP’s holdings in GasLog Partners were worth $24,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in GasLog Partners by 24.5% in the third quarter. JPMorgan Chase & Co. now owns 581,048 shares of the shipping company’s stock valued at $13,538,000 after acquiring an additional 114,193 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in GasLog Partners by 83.9% in the third quarter. Evergreen Capital Management LLC now owns 172,334 shares of the shipping company’s stock valued at $4,007,000 after acquiring an additional 78,625 shares in the last quarter. Royce & Associates LP acquired a new position in GasLog Partners in the fourth quarter valued at $4,965,000. Global X Management Co. LLC boosted its stake in GasLog Partners by 8.7% in the fourth quarter. Global X Management Co. LLC now owns 535,460 shares of the shipping company’s stock valued at $13,253,000 after acquiring an additional 43,021 shares in the last quarter. Finally, Essex Financial Services Inc. acquired a new position in GasLog Partners in the fourth quarter valued at $208,000. Institutional investors own 41.23% of the company’s stock.
Shares of GasLog Partners LP (NYSE:GLOP) opened at $24.30 on Wednesday. GasLog Partners LP has a 1-year low of $21.80 and a 1-year high of $25.55. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 1.36. The company has a market cap of $969.70, a PE ratio of 11.63 and a beta of 1.35.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 9th were issued a $0.5235 dividend. This represents a $2.09 dividend on an annualized basis and a dividend yield of 8.62%. This is a boost from GasLog Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, February 8th. GasLog Partners’s dividend payout ratio is presently 100.00%.
A number of equities research analysts have recently commented on the stock. Jefferies Group assumed coverage on shares of GasLog Partners in a report on Monday, December 18th. They issued a “buy” rating and a $28.00 target price for the company. ValuEngine raised shares of GasLog Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Finally, Zacks Investment Research cut shares of GasLog Partners from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $26.40.
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About GasLog Partners
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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