Golar LNG Partners (GMLP) Cut to “Sell” at ValuEngine

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

A number of other research firms have also issued reports on GMLP. BidaskClub upgraded Golar LNG Partners from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. B. Riley began coverage on Golar LNG Partners in a report on Thursday, May 17th. They issued a “hold” rating and a $23.00 target price for the company. Bank of America lowered Golar LNG Partners from a “buy” rating to an “underperform” rating in a report on Friday, June 1st. Zacks Investment Research lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Finally, Stifel Nicolaus decreased their target price on Golar LNG Partners from $25.00 to $21.00 and set a “buy” rating for the company in a report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $21.00.

NASDAQ:GMLP opened at $14.55 on Tuesday. The firm has a market capitalization of $1.03 billion, a P/E ratio of 7.74, a P/E/G ratio of 1.59 and a beta of 0.97. Golar LNG Partners has a 12-month low of $14.25 and a 12-month high of $23.46. The company has a quick ratio of 0.59, a current ratio of 0.60 and a debt-to-equity ratio of 1.64.

Golar LNG Partners (NASDAQ:GMLP) last released its earnings results on Thursday, August 23rd. The shipping company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The firm had revenue of $84.20 million during the quarter, compared to analyst estimates of $81.17 million. Golar LNG Partners had a return on equity of 13.44% and a net margin of 26.85%. equities research analysts predict that Golar LNG Partners will post 1.14 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GMLP. FMR LLC lifted its holdings in Golar LNG Partners by 52.8% during the 2nd quarter. FMR LLC now owns 6,890,460 shares of the shipping company’s stock worth $106,527,000 after buying an additional 2,379,700 shares during the last quarter. Global X Management Co LLC purchased a new stake in Golar LNG Partners during the 2nd quarter worth about $6,948,000. Huber Capital Management LLC increased its position in shares of Golar LNG Partners by 11.5% during the second quarter. Huber Capital Management LLC now owns 1,923,569 shares of the shipping company’s stock worth $29,738,000 after purchasing an additional 198,135 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Golar LNG Partners during the second quarter worth about $2,794,000. Finally, JPMorgan Chase & Co. increased its position in shares of Golar LNG Partners by 21.0% during the first quarter. JPMorgan Chase & Co. now owns 965,708 shares of the shipping company’s stock worth $16,523,000 after purchasing an additional 167,615 shares in the last quarter. 40.83% of the stock is owned by institutional investors.

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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of April 6, 2018, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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Analyst Recommendations for Golar LNG Partners (NASDAQ:GMLP)

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