Ameriprise Financial Inc. Acquires New Stake in GasLog LP. (GLOG)
Ameriprise Financial Inc. acquired a new stake in shares of GasLog LP. (NYSE:GLOG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,064 shares of the shipping company’s stock, valued at approximately $244,000.
A number of other hedge funds have also added to or reduced their stakes in GLOG. Tudor Investment Corp ET AL bought a new position in GasLog LP. during the first quarter valued at $182,000. Capital Management Associates NY purchased a new stake in shares of GasLog LP. in the second quarter valued at $290,000. Bank of America Corp DE raised its stake in shares of GasLog LP. by 57.9% in the first quarter. Bank of America Corp DE now owns 28,276 shares of the shipping company’s stock valued at $435,000 after acquiring an additional 10,371 shares during the period. Rhumbline Advisers raised its stake in shares of GasLog LP. by 2.8% in the second quarter. Rhumbline Advisers now owns 50,145 shares of the shipping company’s stock valued at $765,000 after acquiring an additional 1,350 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of GasLog LP. by 16.8% in the second quarter. Alliancebernstein L.P. now owns 55,000 shares of the shipping company’s stock valued at $839,000 after acquiring an additional 7,900 shares during the period. Institutional investors and hedge funds own 49.69% of the company’s stock.
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Several equities research analysts have recently weighed in on GLOG shares. Zacks Investment Research downgraded shares of GasLog LP. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 target price on shares of GasLog LP. in a research note on Tuesday, September 5th. Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price on shares of GasLog LP. in a research note on Friday, November 3rd. BidaskClub downgraded shares of GasLog LP. from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, DNB Markets downgraded shares of GasLog LP. from a “buy” rating to a “hold” rating and set a $17.80 target price on the stock. in a research note on Wednesday, September 13th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $18.98.
GasLog LP. (NYSE:GLOG) opened at $17.75 on Friday. The company has a market cap of $1,430.00, a PE ratio of 355.00 and a beta of 1.27. GasLog LP. has a 12 month low of $12.75 and a 12 month high of $19.20. The company has a quick ratio of 1.41, a current ratio of 1.45 and a debt-to-equity ratio of 1.48.
GasLog LP. (NYSE:GLOG) last posted its quarterly earnings results on Thursday, November 2nd. The shipping company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The company had revenue of $131.24 million for the quarter, compared to the consensus estimate of $132.32 million. GasLog LP. had a net margin of 7.34% and a return on equity of 0.19%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. analysts forecast that GasLog LP. will post 0.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 13th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.15%. The ex-dividend date is Friday, November 10th. GasLog LP.’s dividend payout ratio is presently 160.00%.
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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