Brokerages expect Teekay Lng Partners, L.P. (NYSE:TGP) to post sales of $153.76 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Teekay Lng Partners’ earnings. The highest sales estimate is $161.26 million and the lowest is $145.94 million. Teekay Lng Partners posted sales of $115.38 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 21st.
According to Zacks, analysts expect that Teekay Lng Partners will report full-year sales of $609.48 million for the current financial year, with estimates ranging from $585.40 million to $623.23 million. For the next financial year, analysts expect that the company will report sales of $611.16 million, with estimates ranging from $563.76 million to $688.42 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last posted its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The firm had revenue of $153.10 million during the quarter, compared to the consensus estimate 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 for the quarter was up 25.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TGP. Royal Bank of Canada boosted its position in Teekay Lng Partners by 445.1% during the 2nd quarter. Royal Bank of Canada now owns 54,515 shares of the shipping company’s stock worth $769,000 after acquiring an additional 44,514 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Teekay Lng Partners by 101.7% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,889 shares of the shipping company’s stock worth $126,000 after acquiring an additional 4,482 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Teekay Lng Partners during the 2nd quarter worth about $200,000. Morgan Stanley boosted its position in Teekay Lng Partners by 37.0% during the 2nd quarter. Morgan Stanley now owns 356,705 shares of the shipping company’s stock worth $5,030,000 after acquiring an additional 96,278 shares during the period. Finally, Invesco Ltd. boosted its position in Teekay Lng Partners by 2,014.5% during the 2nd quarter. Invesco Ltd. now owns 2,094,264 shares of the shipping company’s stock worth $29,529,000 after acquiring an additional 1,995,219 shares during the period. Hedge funds and other institutional investors own 27.95% of the company’s stock.
TGP traded down $0.14 on Friday, reaching $14.70. 229,385 shares of the company’s stock were exchanged, compared to its average volume of 220,443. The company’s 50 day moving average is $14.67 and its 200-day moving average is $14.32. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 19.34 and a beta of 1.50. Teekay Lng Partners has a twelve month low of $10.74 and a twelve month high of $17.50. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.54 and a current ratio of 0.54.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend was Monday, August 5th. Teekay Lng Partners’s dividend payout ratio is presently 100.00%.
About Teekay Lng Partners
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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