BidaskClub Lowers Hoegh LNG Partners LP (HMLP) to Sell
Hoegh LNG Partners LP (NASDAQ:HMLP) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Sunday.
HMLP has been the subject of a number of other research reports. ValuEngine cut Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Morgan Stanley reissued an “overweight” rating and set a $20.50 target price (down previously from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Hoegh LNG Partners currently has a consensus rating of “Hold” and an average price target of $20.90.
Hoegh LNG Partners (HMLP) traded up 0.79% during trading on Friday, reaching $19.20. The company’s stock had a trading volume of 27,527 shares. The firm has a market capitalization of $631.89 million and a P/E ratio of 9.76. The stock has a 50-day moving average of $18.97 and a 200 day moving average of $19.30. Hoegh LNG Partners has a one year low of $17.05 and a one year high of $20.65.
Hoegh LNG Partners (NASDAQ:HMLP) last released its quarterly earnings results on Wednesday, May 24th. The shipping company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $35.08 million during the quarter, compared to analysts’ expectations of $30.17 million. Hoegh LNG Partners had a return on equity of 33.57% and a net margin of 106.97%. On average, equities research analysts predict that Hoegh LNG Partners will post $1.65 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP boosted its position in shares of Hoegh LNG Partners by 25.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,254,053 shares of the shipping company’s stock worth $44,283,000 after buying an additional 460,400 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of Hoegh LNG Partners during the first quarter worth approximately $2,835,000. FMR LLC boosted its position in shares of Hoegh LNG Partners by 32.5% in the fourth quarter. FMR LLC now owns 1,417,855 shares of the shipping company’s stock worth $26,940,000 after buying an additional 348,000 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Hoegh LNG Partners during the first quarter worth approximately $354,000. Finally, Green Square Capital LLC boosted its position in shares of Hoegh LNG Partners by 204.6% in the first quarter. Green Square Capital LLC now owns 74,413 shares of the shipping company’s stock worth $1,462,000 after buying an additional 49,983 shares during the last quarter.
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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