Wall Street brokerages forecast that Teekay Lng Partners, L.P. (NYSE:TGP) will report $153.76 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Teekay Lng Partners’ earnings, with the highest sales estimate coming in at $161.26 million and the lowest estimate coming in at $145.94 million. Teekay Lng Partners reported sales of $115.38 million during the same quarter last year, which would suggest a positive year over year growth rate of 33.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 21st.
On average, analysts expect that Teekay Lng Partners will report full-year sales of $609.48 million for the current fiscal year, with estimates ranging from $585.40 million to $623.23 million. For the next year, analysts expect that the business will post sales of $611.16 million, with estimates ranging from $563.76 million to $688.42 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $153.10 million during the quarter, compared to analysts’ expectations of $155.70 million. Teekay Lng Partners had a return on equity of 7.14% and a net margin of 12.72%. The business’s revenue was up 25.2% compared to the same quarter last year.
A number of large investors have recently made changes to their positions in the business. Thornburg Investment Management Inc. raised its stake in Teekay Lng Partners by 18.8% during the first quarter. Thornburg Investment Management Inc. now owns 3,794,476 shares of the shipping company’s stock valued at $56,765,000 after buying an additional 601,453 shares during the last quarter. Invesco Ltd. raised its stake 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 during the last quarter. Beach Investment Counsel Inc. PA raised its stake 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 during the last quarter. Morgan Stanley raised its stake 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 during the last quarter. Finally, Bank of Montreal Can raised its stake 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 during the last quarter. Institutional investors and hedge funds own 31.18% of the company’s stock.
NYSE:TGP traded up $0.15 during trading hours on Friday, reaching $16.20. 64,447 shares of the company traded hands, compared to its average volume of 199,897. The business’s 50-day moving average price is $14.59 and its two-hundred day moving average price is $14.48. The stock has a market capitalization of $1.26 billion, a P/E ratio of 21.32 and a beta of 1.49. Teekay Lng Partners has a 1 year low of $10.74 and a 1 year high of $17.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Monday, August 5th. Teekay Lng Partners’s payout ratio is 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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