Hoegh LNG Partners LP (HMLP) Upgraded by ValuEngine to Buy
Hoegh LNG Partners LP (NASDAQ:HMLP) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.
HMLP has been the topic of a number of other reports. BidaskClub lowered Hoegh LNG Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, September 14th. Zacks Investment Research cut Hoegh LNG Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $20.50 target price (down previously from $22.00) on shares of Hoegh LNG Partners in a report on Tuesday, June 13th. Citigroup Inc. lifted their target price on Hoegh LNG Partners from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, TheStreet upgraded Hoegh LNG Partners from a “d” rating to a “c+” rating in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.30.
Hoegh LNG Partners (NASDAQ:HMLP) traded up 3.77% during trading on Monday, hitting $19.25. The company had a trading volume of 105,001 shares. The company’s 50 day moving average price is $18.51 and its 200-day moving average price is $19.14. Hoegh LNG Partners has a 1-year low of $17.05 and a 1-year high of $20.65. The stock has a market capitalization of $633.71 million and a price-to-earnings ratio of 9.45.
Hoegh LNG Partners (NASDAQ:HMLP) last issued its earnings results on Thursday, August 24th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). Hoegh LNG Partners had a return on equity of 13.48% and a net margin of 34.87%. The firm had revenue of $35.02 million during the quarter, compared to analysts’ expectations of $31.94 million. On average, analysts expect that Hoegh LNG Partners will post $1.48 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. Acrospire Investment Management LLC grew its position in Hoegh LNG Partners by 341.5% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,219 shares of the shipping company’s stock worth $100,000 after purchasing an additional 4,037 shares during the period. UBS Group AG lifted its holdings in shares of Hoegh LNG Partners by 27.1% in the 1st quarter. UBS Group AG now owns 9,268 shares of the shipping company’s stock valued at $182,000 after buying an additional 1,978 shares during the period. BB&T Corp acquired a new position in shares of Hoegh LNG Partners in the 2nd quarter valued at about $192,000. Bard Associates Inc. acquired a new position in shares of Hoegh LNG Partners in the 2nd quarter valued at about $321,000. Finally, Stifel Financial Corp lifted its holdings in shares of Hoegh LNG Partners by 3.3% in the 2nd quarter. Stifel Financial Corp now owns 18,398 shares of the shipping company’s stock valued at $351,000 after buying an additional 591 shares during the period.
About Hoegh LNG Partners
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.
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