Teekay Lng Partners (NYSE:TGP) Stock Price Up 6.7%

Teekay Lng Partners, L.P. (NYSE:TGP) shares rose 6.7% on Monday . The company traded as high as $14.52 and last traded at $14.40, approximately 180,638 shares were traded during mid-day trading. A decline of 23% from the average daily volume of 233,215 shares. The stock had previously closed at $13.49.

TGP has been the topic of a number of research reports. Zacks Investment Research lowered shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. TheStreet raised shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Thursday, August 1st. Finally, ValuEngine lowered shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

The company has a debt-to-equity ratio of 1.84, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s 50 day simple moving average is $14.64 and its two-hundred day simple moving average is $14.30. The stock has a market cap of $1.07 billion, a P/E ratio of 19.67 and a beta of 1.50.

Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $153.10 million for the quarter, compared to analyst estimates of $155.70 million. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The company’s revenue was up 25.2% on a year-over-year basis. As a group, analysts forecast that Teekay Lng Partners, L.P. will post 1.79 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Monday, August 5th. Teekay Lng Partners’s dividend payout ratio is presently 100.00%.

Several hedge funds have recently made changes to their positions in the company. Thornburg Investment Management Inc. lifted its position in shares of Teekay Lng Partners by 18.8% in the first quarter. Thornburg Investment Management Inc. now owns 3,794,476 shares of the shipping company’s stock worth $56,765,000 after purchasing an additional 601,453 shares in the last quarter. Invesco Ltd. lifted its position in shares of Teekay Lng Partners by 2,014.5% in the second quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock worth $29,529,000 after purchasing an additional 1,995,219 shares in the last quarter. Beach Investment Counsel Inc. PA lifted its position in shares of Teekay Lng Partners by 2.3% in the second quarter. Beach Investment Counsel Inc. PA now owns 1,264,611 shares of the shipping company’s stock worth $17,831,000 after purchasing an additional 28,064 shares in the last quarter. Morgan Stanley lifted its position in shares of Teekay Lng Partners by 37.0% in the second quarter. Morgan Stanley now owns 356,705 shares of the shipping company’s stock worth $5,030,000 after purchasing an additional 96,278 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Teekay Lng Partners by 121.8% in the second quarter. Bank of Montreal Can now owns 241,270 shares of the shipping company’s stock worth $3,402,000 after purchasing an additional 132,500 shares in the last quarter. 27.95% of the stock is currently owned by institutional investors and hedge funds.

About Teekay Lng Partners (NYSE:TGP)

Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

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