GMLP has been the subject of a number of other reports. TheStreet cut Golar LNG Partners from a c rating to a d+ rating in a report on Friday, June 7th. B. Riley set a $14.00 price target on shares of Golar LNG Partners and gave the stock a hold rating in a research report on Friday, August 30th. Bank of America decreased their price objective on shares of Golar LNG Partners from $11.50 to $10.00 and set an underperform rating on the stock in a report on Thursday, August 22nd. Zacks Investment Research cut shares of Golar LNG Partners from a hold rating to a strong sell rating in a research report on Tuesday, September 3rd. Finally, ValuEngine downgraded shares of Golar LNG Partners from a buy rating to a hold rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $13.00.
Shares of GMLP stock opened at $9.71 on Friday. The stock’s fifty day moving average is $10.46 and its 200-day moving average is $11.70. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.08 and a current ratio of 1.10. The stock has a market capitalization of $688.36 million, a PE ratio of 9.25, a PEG ratio of 2.34 and a beta of 1.02. Golar LNG Partners has a 52 week low of $9.28 and a 52 week high of $15.48.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th were given a $0.404 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.62 dividend on an annualized basis and a yield of 16.64%. Golar LNG Partners’s payout ratio is 154.29%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Golar LNG Partners by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 61,003 shares of the shipping company’s stock valued at $658,000 after purchasing an additional 3,101 shares in the last quarter. Deutsche Bank AG raised its position in shares of Golar LNG Partners by 1,099.7% during the 4th quarter. Deutsche Bank AG now owns 11,997 shares of the shipping company’s stock worth $128,000 after buying an additional 10,997 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of Golar LNG Partners by 0.5% in the 1st quarter. OppenheimerFunds Inc. now owns 6,292,174 shares of the shipping company’s stock worth $81,232,000 after acquiring an additional 33,479 shares during the period. Muhlenkamp & Co. Inc. acquired a new stake in shares of Golar LNG Partners in the 1st quarter worth approximately $3,077,000. Finally, Eqis Capital Management Inc. lifted its stake in shares of Golar LNG Partners by 44.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 40,303 shares of the shipping company’s stock worth $455,000 after acquiring an additional 12,335 shares during the period. 41.28% of the stock is owned by institutional investors.
About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
Further Reading: 52-Week High/Low
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