Citigroup Inc. Boosts Hoegh LNG Partners LP (HMLP) Price Target to $22.00
Hoegh LNG Partners LP (NASDAQ:HMLP) had its price target increased by investment analysts at Citigroup Inc. from $21.00 to $22.00 in a research note issued on Friday. The brokerage presently has a “buy” rating on the shipping company’s stock. Citigroup Inc.’s price objective points to a potential upside of 16.71% from the company’s previous close.
HMLP has been the topic of several other research reports. ValuEngine downgraded Hoegh LNG Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Barclays PLC raised Hoegh LNG Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $22.00 in a research report on Tuesday, July 18th. Zacks Investment Research raised Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, TheStreet raised Hoegh LNG Partners from a “d” rating to a “c+” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Hoegh LNG Partners currently has an average rating of “Buy” and an average price target of $21.30.
Hoegh LNG Partners (NASDAQ HMLP) remained flat at $18.85 during midday trading on Friday. The company had a trading volume of 7,183 shares. Hoegh LNG Partners has a one year low of $17.05 and a one year high of $20.65. The company has a market capitalization of $620.37 million and a price-to-earnings ratio of 9.58. The firm’s 50 day moving average price is $19.00 and its 200 day moving average price is $19.31.
Hoegh LNG Partners (NASDAQ:HMLP) last announced its quarterly earnings results on Thursday, August 24th. The shipping company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by $0.08. Hoegh LNG Partners had a net margin of 106.97% and a return on equity of 33.57%. The company had revenue of $35.02 million for the quarter, compared to analyst estimates of $31.94 million. On average, analysts anticipate that Hoegh LNG Partners will post $1.58 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. Bard Associates Inc. acquired a new stake in Hoegh LNG Partners during the second quarter valued at $321,000. Kayne Anderson Capital Advisors LP boosted its stake in Hoegh LNG Partners by 1.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,297,453 shares of the shipping company’s stock valued at $43,988,000 after buying an additional 43,400 shares in the last quarter. Forward Management LLC boosted its stake in Hoegh LNG Partners by 125.8% in the second quarter. Forward Management LLC now owns 20,100 shares of the shipping company’s stock valued at $385,000 after buying an additional 11,200 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Hoegh LNG Partners during the second quarter valued at $428,000. Finally, BB&T Corp acquired a new stake in Hoegh LNG Partners during the second quarter valued at $192,000.
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.
Receive News & Stock Ratings for Hoegh LNG Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hoegh LNG Partners LP and related stocks with our FREE daily email newsletter.