Dynagas LNG Partners LP (NYSE:DLNG) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Dynagas LNG Partners LP (NYSE:DLNG) from a strong sell rating to a hold rating in a research report released on Tuesday, August 8th.
According to Zacks, “Dynagas LNG Partners LP is focused on owning and operating LNG carriers that are employed on multi-year contracts with international energy companies. Dynagas LNG Partners LP is based in Glyfada, Greece. “
Several other brokerages have also recently commented on DLNG. Maxim Group set a $20.00 target price on Dynagas LNG Partners and gave the stock a buy rating in a research report on Thursday, June 8th. Stifel Nicolaus raised their target price on Dynagas LNG Partners from $18.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday, July 4th. Jefferies Group LLC reaffirmed a buy rating and issued a $19.00 target price on shares of Dynagas LNG Partners in a research report on Monday, June 12th. Morgan Stanley reduced their price objective on Dynagas LNG Partners to $13.00 and set an equal weight rating for the company in a research report on Tuesday, June 13th. Finally, BidaskClub cut Dynagas LNG Partners from a hold rating to a sell rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $16.25.
Dynagas LNG Partners (DLNG) traded down 0.28% during trading on Tuesday, reaching $14.06. The company had a trading volume of 53,832 shares. The firm has a market capitalization of $499.48 million, a price-to-earnings ratio of 8.94 and a beta of 1.10. Dynagas LNG Partners has a 12 month low of $12.76 and a 12 month high of $17.93. The stock has a 50 day moving average price of $14.86 and a 200 day moving average price of $15.82.
Dynagas LNG Partners (NYSE:DLNG) last issued its earnings results on Thursday, June 8th. The shipping company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The business had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $40.38 million. Dynagas LNG Partners had a return on equity of 23.74% and a net margin of 37.68%. On average, equities research analysts predict that Dynagas LNG Partners will post $1.02 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its stake in Dynagas LNG Partners by 20.3% in the second quarter. Ameriprise Financial Inc. now owns 42,088 shares of the shipping company’s stock worth $644,000 after buying an additional 7,095 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Dynagas LNG Partners during the second quarter worth about $367,000. Marshall Wace North America L.P. bought a new stake in shares of Dynagas LNG Partners during the second quarter worth $238,000. Proficio Capital Partners LLC boosted its stake in shares of Dynagas LNG Partners by 48.5% in the second quarter. Proficio Capital Partners LLC now owns 73,050 shares of the shipping company’s stock worth $1,075,000 after buying an additional 23,850 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Dynagas LNG Partners by 16.3% in the first quarter. Clearbridge Investments LLC now owns 1,469,530 shares of the shipping company’s stock worth $25,893,000 after buying an additional 205,730 shares in the last quarter. 21.01% of the stock is owned by hedge funds and other institutional investors.
Dynagas LNG Partners Company Profile
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
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