Hoegh LNG Partners (HMLP) Posts Quarterly Earnings Results
Hoegh LNG Partners (NASDAQ:HMLP) issued its earnings results on Thursday. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.16. The firm earned $23.35 million during the quarter, compared to the consensus estimate of $23.11 million.
Hoegh LNG Partners (NASDAQ:HMLP) traded up 1.37% during trading on Thursday, reaching $18.50. The company had a trading volume of 6,134 shares. Hoegh LNG Partners has a one year low of $11.50 and a one year high of $19.56. The firm’s 50-day moving average price is $18.15 and its 200 day moving average price is $18.16. The firm has a market capitalization of $486.96 million and a P/E ratio of 19.25.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 9.04%. The ex-dividend date of this dividend was Wednesday, November 2nd.
Several analysts have issued reports on HMLP shares. Zacks Investment Research upgraded Hoegh LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 2nd. Citigroup Inc. restated a “buy” rating and issued a $21.00 target price (up from $18.50) on shares of Hoegh LNG Partners in a research note on Friday, August 26th. Morgan Stanley reiterated a “hold” rating on shares of Hoegh LNG Partners in a research note on Friday, August 26th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $20.00 price objective (up from $19.00) on shares of Hoegh LNG Partners in a research note on Tuesday, August 30th.
An institutional investor recently raised its position in Hoegh LNG Partners stock. Morgan Stanley raised its position in shares of Hoegh LNG Partners (NASDAQ:HMLP) by 7.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 28,644 shares of the company’s stock after buying an additional 1,954 shares during the period. Morgan Stanley owned 0.11% of Hoegh LNG Partners worth $539,000 as of its most recent SEC filing.
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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