Hoegh LNG Partners LP (NASDAQ:HMLP) Stake Reduced by Fmr LLC
FMR LLC reduced its stake in shares of Hoegh LNG Partners LP (NASDAQ:HMLP) by 0.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,412,255 shares of the shipping company’s stock after selling 5,600 shares during the period. FMR LLC owned about 4.29% of Hoegh LNG Partners worth $27,751,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP boosted its stake 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 in the last quarter. Van ECK Associates Corp bought a new stake in shares of Hoegh LNG Partners during the first quarter worth about $2,835,000. Renaissance Technologies LLC boosted its stake in shares of Hoegh LNG Partners by 148.0% in the fourth quarter. Renaissance Technologies LLC now owns 65,957 shares of the shipping company’s stock worth $1,253,000 after buying an additional 39,357 shares in the last quarter. Nwam LLC boosted its stake in shares of Hoegh LNG Partners by 2.8% in the first quarter. Nwam LLC now owns 50,440 shares of the shipping company’s stock worth $991,000 after buying an additional 1,364 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Hoegh LNG Partners during the first quarter worth about $354,000.
Shares of Hoegh LNG Partners LP (NASDAQ:HMLP) traded down 1.06% on Tuesday, reaching $18.60. The company’s stock had a trading volume of 83,692 shares. The firm’s 50 day moving average is $19.17 and its 200-day moving average is $19.40. The stock has a market cap of $612.14 million and a P/E ratio of 9.46. Hoegh LNG Partners LP has a 52-week low of $17.05 and a 52-week high of $20.65.
Hoegh LNG Partners (NASDAQ:HMLP) last announced its quarterly earnings results on Wednesday, May 24th. The shipping company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 forecast that Hoegh LNG Partners LP will post $1.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Thursday, August 3rd will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 9.25%. The ex-dividend date of this dividend is Tuesday, August 1st.
A number of equities research analysts have recently issued reports on HMLP shares. Zacks Investment Research cut Hoegh LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 25th. BidaskClub upgraded Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Morgan Stanley reissued an “overweight” rating and set a $20.50 target price (down from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. Barclays PLC raised Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $22.00 in a report on Tuesday, July 18th. Finally, ValuEngine lowered Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have 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. The company currently has an average rating of “Hold” and a consensus price target of $21.10.
Hoegh LNG Partners Company Profile
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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