Golar LNG Partners LP (GMLP) Given Consensus Rating of “Buy” by Analysts
Golar LNG Partners LP (NASDAQ:GMLP) has been assigned an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.33.
GMLP has been the subject of several analyst reports. ValuEngine upgraded shares of Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Jefferies Group LLC restated a “buy” rating and set a $26.00 price target on shares of Golar LNG Partners in a report on Monday, June 12th. Stifel Nicolaus restated a “hold” rating and set a $23.00 price target on shares of Golar LNG Partners in a report on Friday, July 14th. BidaskClub upgraded shares of Golar LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Golar LNG Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th.
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Several large investors have recently added to or reduced their stakes in GMLP. Waldron LP bought a new stake in shares of Golar LNG Partners in the 1st quarter valued at $893,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Golar LNG Partners by 0.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 16,380 shares of the shipping company’s stock valued at $366,000 after acquiring an additional 130 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Golar LNG Partners in the 1st quarter valued at $920,000. Alliancebernstein L.P. bought a new stake in shares of Golar LNG Partners in the 1st quarter valued at $216,000. Finally, FMR LLC increased its stake in shares of Golar LNG Partners by 11.2% in the 1st quarter. FMR LLC now owns 1,195,900 shares of the shipping company’s stock valued at $26,716,000 after acquiring an additional 120,300 shares in the last quarter. Institutional investors own 45.47% of the company’s stock.
Shares of Golar LNG Partners (GMLP) opened at 23.03 on Friday. Golar LNG Partners has a 52 week low of $18.32 and a 52 week high of $25.82. The firm has a 50-day moving average of $21.82 and a 200 day moving average of $21.30. The company has a market cap of $1.51 billion, a P/E ratio of 8.43 and a beta of 0.95.
Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Wednesday, August 30th. The shipping company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.12. Golar LNG Partners had a net margin of 43.94% and a return on equity of 31.69%. Equities analysts anticipate that Golar LNG Partners will post $2.11 earnings per share for the current fiscal year.
Golar LNG Partners Company Profile
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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