GasLog LP. (GLOG) Cut to “Hold” at DNB Markets
DNB Markets downgraded shares of GasLog LP. (NYSE:GLOG) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have $17.80 target price on the shipping company’s stock.
A number of other equities research analysts have also recently issued reports on GLOG. BidaskClub cut shares of GasLog LP. from a buy rating to a hold rating in a research report on Saturday, August 5th. Jefferies Group LLC reiterated a buy rating and set a $20.00 target price on shares of GasLog LP. in a research report on Tuesday, September 5th. Finally, Zacks Investment Research upgraded shares of GasLog LP. from a sell rating to a hold rating in a research report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. GasLog LP. currently has a consensus rating of Buy and an average target price of $18.98.
GasLog LP. (GLOG) opened at 16.85 on Wednesday. The firm’s market capitalization is $1.35 billion. The firm’s 50-day moving average is $16.74 and its 200-day moving average is $15.27. GasLog LP. has a 1-year low of $12.70 and a 1-year high of $18.35.
GasLog LP. (NYSE:GLOG) last announced its earnings results on Thursday, August 3rd. The shipping company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The firm had revenue of $129.90 million for the quarter, compared to analyst estimates of $128.14 million. GasLog LP. had a return on equity of 0.50% and a net margin of 0.70%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. On average, equities analysts anticipate that GasLog LP. will post $0.10 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Monday, August 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Thursday, August 10th. GasLog LP.’s dividend payout ratio is currently -800.00%.
Large investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in GasLog LP. during the 1st quarter worth about $182,000. Cubist Systematic Strategies LLC grew its holdings in GasLog LP. by 23.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,656 shares of the shipping company’s stock worth $193,000 after acquiring an additional 2,403 shares during the last quarter. QS Investors LLC bought a new stake in GasLog LP. during the 2nd quarter worth about $194,000. Ameriprise Financial Inc. bought a new stake in GasLog LP. during the 2nd quarter worth about $244,000. Finally, Capital Management Associates NY bought a new stake in GasLog LP. during the 2nd quarter worth about $290,000. 48.51% of the stock is currently owned by hedge funds and other institutional investors.
About GasLog LP.
GasLog Ltd. is an international owner, operator and manager of liquefied natural gas (LNG) carriers. The Company provides support to international energy companies as part of their LNG logistics chain. The Company’s owned consolidated fleet consists of 27 LNG carriers, including 22 ships in operation and five LNG carriers on order.
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