Dynagas LNG Partners (NYSE:DLNG) Rating Increased to Buy at Zacks Investment Research

Dynagas LNG Partners (NYSE:DLNG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage currently has a $3.25 target price on the shipping company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.49% from the company’s current price.

According to Zacks, “Dynagas LNG Partners LP is focused on owning and operating LNG carriers that are employed on multi-year contracts with international energy companies. Dynagas LNG Partners LP is based in Glyfada, Greece. “

Separately, Jefferies Financial Group raised their target price on shares of Dynagas LNG Partners from $2.50 to $3.00 and gave the company a “hold” rating in a research report on Friday, January 29th.

DLNG stock opened at $2.79 on Tuesday. The stock has a market capitalization of $99.36 million, a P/E ratio of 5.81 and a beta of 1.91. The business has a 50-day moving average of $2.95 and a 200-day moving average of $2.63. Dynagas LNG Partners has a fifty-two week low of $1.06 and a fifty-two week high of $3.97.

Dynagas LNG Partners (NYSE:DLNG) last released its quarterly earnings results on Monday, March 15th. The shipping company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Dynagas LNG Partners had a return on equity of 13.94% and a net margin of 21.11%. As a group, sell-side analysts anticipate that Dynagas LNG Partners will post 0.73 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Dynagas LNG Partners stock. Morgan Stanley lifted its position in Dynagas LNG Partners LP (NYSE:DLNG) by 145.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,862 shares of the shipping company’s stock after buying an additional 144,692 shares during the quarter. Morgan Stanley owned about 0.68% of Dynagas LNG Partners worth $609,000 as of its most recent SEC filing. Institutional investors and hedge funds own 8.25% of the company’s stock.

About Dynagas LNG Partners

Dynagas LNG Partners LP, through its subsidiaries, operates in the seaborne transportation industry worldwide. As of April 16, 2020, the company owned and operated a fleet of six liquefied natural gas carriers. Dynagas GP LLC serves as the general partner of Dynagas LNG Partners LP. Dynagas LNG Partners LP was founded in 2013 and is headquartered in Athens, Greece.

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