Hoegh LNG Partners LP (HMLP) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Hoegh LNG Partners LP (NASDAQ:HMLP) from a sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Hoegh LNG Partners LP is a provider of floating LNG services under long-term contracts. The Company owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and LNG carriers which transport the LNG to its markets. Hoegh LNG Partners LP is based in Hamilton, Bermuda. “
HMLP has been the topic of a number of other reports. ValuEngine cut shares of Hoegh LNG Partners from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Hoegh LNG Partners from a sell rating to a hold rating in a research report on Saturday, July 8th. Morgan Stanley reiterated an overweight rating and set a $20.50 price target (down from $22.00) on shares of Hoegh LNG Partners in a research report on Tuesday, June 13th. TheStreet upgraded shares of Hoegh LNG Partners from a d rating to a c+ rating in a research report on Monday, August 7th. Finally, Barclays PLC upgraded shares of Hoegh LNG Partners from an equal weight rating to an overweight rating and increased their price target for the company from $21.00 to $22.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $21.10.
Hoegh LNG Partners (NASDAQ:HMLP) remained flat at $18.05 during midday trading on Tuesday. The company had a trading volume of 5,749 shares. The company’s 50 day moving average price is $19.09 and its 200 day moving average price is $19.35. Hoegh LNG Partners has a one year low of $17.05 and a one year high of $20.65. The firm has a market capitalization of $594.04 million and a P/E ratio of 9.18.
Hoegh LNG Partners (NASDAQ:HMLP) last issued its quarterly earnings results on Wednesday, May 24th. The shipping company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Hoegh LNG Partners had a net margin of 106.97% and a return on equity of 33.57%. The business had revenue of $35.08 million for the quarter, compared to analysts’ expectations of $30.17 million. On average, analysts expect that Hoegh LNG Partners will post $1.64 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Thursday, August 3rd were paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 9.53%. The ex-dividend date of this dividend was Tuesday, August 1st.
Several hedge funds have recently added to or reduced their stakes in HMLP. Acrospire Investment Management LLC raised its stake in Hoegh LNG Partners by 341.5% in the second quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock worth $100,000 after buying an additional 4,037 shares during the period. UBS Group AG raised its stake in Hoegh LNG Partners by 27.1% in the first quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock worth $182,000 after buying an additional 1,978 shares during the period. BB&T Corp bought a new stake in Hoegh LNG Partners during the second quarter worth $192,000. Bard Associates Inc. bought a new stake in Hoegh LNG Partners during the second quarter worth $321,000. Finally, Stifel Financial Corp raised its stake in Hoegh LNG Partners by 3.3% in the second quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock worth $351,000 after buying an additional 591 shares during the period.
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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