BidaskClub Downgrades GasLog Partners LP (GLOP) to Sell
GasLog Partners LP (NYSE:GLOP) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
GLOP has been the topic of a number of other research reports. Zacks Investment Research lowered shares of GasLog Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of GasLog Partners in a report on Tuesday, July 4th. Finally, 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 report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. GasLog Partners has an average rating of “Hold” and an average target price of $25.40.
Shares of GasLog Partners (NYSE:GLOP) opened at 22.35 on Friday. The firm has a market capitalization of $882.02 million, a PE ratio of 11.20 and a beta of 1.67. The stock has a 50 day moving average price of $23.42 and a 200 day moving average price of $23.46. GasLog Partners has a 52 week low of $19.09 and a 52 week high of $25.45.
GasLog Partners (NYSE:GLOP) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by $0.11. GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. The business had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $61.86 million. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities analysts forecast that GasLog Partners will post $2.24 earnings per share for the current fiscal year.
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A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in GasLog Partners by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock worth $132,000 after buying an additional 323 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in GasLog Partners by 8.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,755 shares of the shipping company’s stock worth $386,000 after buying an additional 1,181 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in GasLog Partners by 19.4% in the 2nd quarter. Moors & Cabot Inc. now owns 11,482 shares of the shipping company’s stock worth $259,000 after buying an additional 1,868 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in GasLog Partners by 22.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,935 shares of the shipping company’s stock worth $293,000 after buying an additional 2,362 shares in the last quarter. Finally, Global X Management Co. LLC lifted its holdings in GasLog Partners by 0.7% in the 1st quarter. Global X Management Co. LLC now owns 363,060 shares of the shipping company’s stock worth $8,895,000 after buying an additional 2,640 shares in the last quarter. Hedge funds and other institutional investors own 39.84% of the company’s stock.
About GasLog Partners
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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