GasLog Partners LP (GLOP) Receives $26.00 Consensus Target Price from Analysts
GasLog Partners LP (NYSE:GLOP) has been assigned an average recommendation of “Buy” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $26.00.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded GasLog Partners from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $28.00 target price on shares of GasLog Partners in a report on Tuesday, July 4th. ValuEngine raised GasLog Partners from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 21st. BidaskClub raised GasLog Partners from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Morgan Stanley raised GasLog Partners from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $23.50 to $26.00 in a report on Tuesday, June 13th.
Shares of GasLog Partners (GLOP) traded up 0.65% during midday trading on Friday, reaching $23.30. 67,540 shares of the company traded hands. The stock has a market capitalization of $919.51 million, a P/E ratio of 11.68 and a beta of 1.67. The stock’s 50-day moving average is $23.06 and its 200-day moving average is $23.33. GasLog Partners has a 1-year low of $19.10 and a 1-year high of $25.45.
GasLog Partners (NYSE:GLOP) last released its earnings results on Thursday, July 27th. The shipping company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.11). GasLog Partners had a net margin of 35.43% and a return on equity of 12.06%. The business had revenue of $65.27 million during the quarter, compared to analyst estimates of $61.86 million. During the same period last year, the business posted $0.52 EPS. GasLog Partners’s revenue was up 1.9% compared to the same quarter last year. Equities analysts predict that GasLog Partners will post $2.22 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of GasLog Partners by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 5,813 shares of the shipping company’s stock valued at $132,000 after buying an additional 323 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of GasLog Partners in the first quarter valued at $206,000. People s United Financial Inc. purchased a new position in shares of GasLog Partners in the second quarter valued at $227,000. Meridian Wealth Management LLC purchased a new position in shares of GasLog Partners in the second quarter valued at $252,000. Finally, Moors & Cabot Inc. increased its position in shares of GasLog Partners by 19.4% in the second quarter. Moors & Cabot Inc. now owns 11,482 shares of the shipping company’s stock valued at $259,000 after buying an additional 1,868 shares in the last quarter. Institutional investors and hedge funds 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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