GasLog Partners LP (NYSE:GLOP) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS
GasLog Partners LP (NYSE:GLOP) issued its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.11, Briefing.com reports. The company had revenue of $65.27 million for the quarter, compared to analyst estimates of $61.86 million. GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS.
GasLog Partners (GLOP) opened at 23.75 on Monday. GasLog Partners has a 1-year low of $18.82 and a 1-year high of $25.45. The company has a 50 day moving average price of $23.54 and a 200 day moving average price of $23.34. The firm has a market cap of $937.27 million, a PE ratio of 11.90 and a beta of 1.66.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Monday, August 7th will be paid a $0.51 dividend. This is a boost from GasLog Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 3rd. This represents a $2.04 annualized dividend and a dividend yield of 8.59%. GasLog Partners’s payout ratio is 94.88%.
A number of research analysts have commented on the company. Zacks Investment Research cut GasLog Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Barclays PLC assumed coverage on GasLog Partners in a research note on Friday, April 21st. They set an “equal weight” rating and a $26.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $28.00 price objective on shares of GasLog Partners in a research note on Tuesday, July 4th. Morgan Stanley upgraded GasLog Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $23.50 to $26.00 in a research note on Tuesday, June 13th. Finally, TheStreet upgraded GasLog Partners from a “c-” rating to a “b” rating in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. GasLog Partners has a consensus rating of “Buy” and a consensus target price of $25.40.
Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of GasLog Partners by 82.8% in the first quarter. FMR LLC now owns 2,047,700 shares of the shipping company’s stock valued at $50,169,000 after buying an additional 927,600 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in GasLog Partners by 43.5% in the first quarter. OppenheimerFunds Inc. now owns 2,500,867 shares of the shipping company’s stock valued at $61,271,000 after buying an additional 758,500 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in GasLog Partners by 43,473.4% in the first quarter. JPMorgan Chase & Co. now owns 458,828 shares of the shipping company’s stock valued at $11,242,000 after buying an additional 457,775 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in GasLog Partners by 15.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,342,233 shares of the shipping company’s stock valued at $57,376,000 after buying an additional 305,672 shares during the last quarter. Finally, Global X Management Co. LLC boosted its stake in GasLog Partners by 51.2% in the second quarter. Global X Management Co. LLC now owns 549,001 shares of the shipping company’s stock valued at $12,435,000 after buying an additional 185,941 shares during the last quarter. 58.86% of the stock is currently owned by institutional investors.
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About GasLog Partners
GasLog Partners LP is a limited partnership company. The Company focuses on owning, operating and acquiring liquefied natural gas (LNG) carriers under multi-year charters. The Company’s fleet consists of 9 LNG carriers with an average carrying capacity of approximately 149,500 cubic meters (cbm), each of which has a multi-year time charter.
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