Hoegh LNG Partners (HMLP) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS
Hoegh LNG Partners (NASDAQ:HMLP) announced its quarterly earnings results on Thursday. The company reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.16. The firm had revenue of $23.35 million for the quarter, compared to the consensus estimate of $23.11 million.
Hoegh LNG Partners (NASDAQ:HMLP) traded up 1.37% during midday trading on Thursday, reaching $18.50. 6,134 shares of the company’s stock were exchanged. The stock has a market capitalization of $486.96 million and a price-to-earnings ratio of 19.25. The stock’s 50-day moving average is $18.15 and its 200-day moving average is $18.16. Hoegh LNG Partners has a 12-month low of $11.50 and a 12-month high of $19.56.
The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 9.04%. The ex-dividend date was Wednesday, November 2nd.
An institutional investor recently raised its position in Hoegh LNG Partners stock. Morgan Stanley increased its position in Hoegh LNG Partners (NASDAQ:HMLP) by 7.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,644 shares of the company’s stock after buying an additional 1,954 shares during the period. Morgan Stanley owned approximately 0.11% of Hoegh LNG Partners worth $539,000 as of its most recent filing with the SEC.
Several equities research analysts recently weighed in on HMLP shares. Citigroup Inc. reissued a “buy” rating and set a $21.00 price target (up previously from $18.50) on shares of Hoegh LNG Partners in a research report on Friday, August 26th. Zacks Investment Research raised shares of Hoegh LNG Partners from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, August 29th. Barclays PLC reissued an “equal weight” rating and set a $20.00 price target (up previously from $19.00) on shares of Hoegh LNG Partners in a research report on Tuesday, August 30th. Finally, Morgan Stanley reissued a “hold” rating on shares of Hoegh LNG Partners in a research report on Friday, August 26th.
About Hoegh LNG Partners
Hoegh LNG Partners LP owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Company’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant.
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