Hoegh LNG Partners (NYSE:HMLP) Shares Down 1.5% After Earnings Miss

Hoegh LNG Partners LP (NYSE:HMLP) shares dropped 1.5% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $14.05 and last traded at $14.79, approximately 6,398 shares traded hands during trading. A decline of 94% from the average daily volume of 107,090 shares. The stock had previously closed at $15.01.

The shipping company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.27). Hoegh LNG Partners had a net margin of 47.40% and a return on equity of 19.69%. The company had revenue of $33.78 million for the quarter, compared to analysts’ expectations of $35.27 million. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was down 7.7% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 11.83%. The ex-dividend date was Wednesday, July 31st. Hoegh LNG Partners’s payout ratio is presently 96.70%.

A number of analysts have issued reports on the stock. TheStreet cut shares of Hoegh LNG Partners from a “b-” rating to a “c+” rating in a research note on Thursday, August 8th. Zacks Investment Research upgraded shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, ValuEngine cut shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Hoegh LNG Partners presently has a consensus rating of “Hold” and a consensus price target of $19.80.

Several institutional investors have recently modified their holdings of the company. Trustcore Financial Services LLC lifted its stake in shares of Hoegh LNG Partners by 14.8% in the second quarter. Trustcore Financial Services LLC now owns 7,000 shares of the shipping company’s stock worth $121,000 after buying an additional 900 shares during the last quarter. Sigma Planning Corp increased its position in Hoegh LNG Partners by 31.4% during the second quarter. Sigma Planning Corp now owns 29,129 shares of the shipping company’s stock worth $504,000 after acquiring an additional 6,968 shares during the period. Campbell & CO Investment Adviser LLC increased its position in Hoegh LNG Partners by 59.3% during the first quarter. Campbell & CO Investment Adviser LLC now owns 21,145 shares of the shipping company’s stock worth $413,000 after acquiring an additional 7,871 shares during the period. Osborn Williams & Donohoe LLC bought a new position in Hoegh LNG Partners during the first quarter worth $163,000. Finally, Citadel Advisors LLC increased its position in Hoegh LNG Partners by 38.9% during the second quarter. Citadel Advisors LLC now owns 32,009 shares of the shipping company’s stock worth $554,000 after acquiring an additional 8,964 shares during the period. Institutional investors and hedge funds own 23.65% of the company’s stock.

The stock’s 50-day moving average is $17.35 and its 200-day moving average is $18.12. The firm has a market cap of $500.83 million, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 9.03 and a beta of 0.98. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.10.

Hoegh LNG Partners Company Profile (NYSE:HMLP)

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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