GasLog Partners LP (GLOP) Rating Increased to Hold at Zacks Investment Research
GasLog Partners LP (NYSE:GLOP) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC restated a “buy” rating and issued a $28.00 price objective on shares of GasLog Partners in a research note on Tuesday, July 4th. Morgan Stanley upgraded shares of GasLog Partners from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $23.50 to $26.00 in a research note on Tuesday, June 13th. TheStreet upgraded shares of GasLog Partners from a “c-” rating to a “b” rating in a research note on Monday, May 8th. Finally, Barclays PLC assumed coverage on shares of GasLog Partners in a research note on Friday, April 21st. They issued an “equal weight” rating and a $26.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.40.
GasLog Partners (NYSE:GLOP) traded down 0.22% during midday trading on Tuesday, reaching $22.90. 94,582 shares of the company were exchanged. GasLog Partners has a one year low of $18.85 and a one year high of $25.45. The firm has a market cap of $903.73 million, a P/E ratio of 11.48 and a beta of 1.66. The firm’s 50-day moving average is $23.78 and its 200-day moving average is $23.48.
GasLog Partners (NYSE:GLOP) last issued its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.11. GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. The firm had revenue of $65.27 million during the quarter, compared to analyst estimates of $61.86 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. GasLog Partners’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, equities analysts expect that GasLog Partners will post $2.24 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in GasLog Partners by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock valued at $132,000 after buying an additional 323 shares during the last quarter. Essex Financial Services Inc. bought a new position in GasLog Partners during the first quarter valued at approximately $204,000. Koch Industries Inc. bought a new position in GasLog Partners during the first quarter valued at approximately $206,000. People s United Financial Inc. bought a new position in GasLog Partners during the second quarter valued at approximately $227,000. Finally, HighTower Advisors LLC bought a new position in GasLog Partners during the first quarter valued at approximately $265,000. Hedge funds and other institutional investors own 42.24% of the company’s stock.
GasLog Partners Company Profile
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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