Golar LNG Partners LP (GMLP) Issues Quarterly Earnings Results
Golar LNG Partners LP (NASDAQ:GMLP) posted its quarterly earnings data on Wednesday. The shipping company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.12, reports. Golar LNG Partners had a net margin of 40.50% and a return on equity of 28.97%.
Golar LNG Partners (NASDAQ:GMLP) traded down 0.265% on Wednesday, reaching $20.695. 98,190 shares of the company traded hands. The firm has a 50 day moving average of $20.92 and a 200-day moving average of $21.47. Golar LNG Partners has a one year low of $18.13 and a one year high of $25.82. The stock has a market capitalization of $1.46 billion, a PE ratio of 7.450 and a beta of 0.93.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a yield of 11.13%. The ex-dividend date was Wednesday, August 2nd. Golar LNG Partners’s payout ratio is 82.21%.
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Several research firms have weighed in on GMLP. Zacks Investment Research cut shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. BidaskClub raised shares of Golar LNG Partners from a “strong sell” rating to a “sell” rating in a research note on Sunday, June 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $26.00 target price on shares of Golar LNG Partners in a research note on Monday, June 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $22.00 target price (down previously from $24.00) on shares of Golar LNG Partners in a research note on Tuesday, June 13th. Finally, Seaport Global Securities reaffirmed a “neutral” rating and issued a $22.00 target price on shares of Golar LNG Partners in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Golar LNG Partners has an average rating of “Hold” and an average target price of $23.25.
About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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