Zacks Investment Research cut shares of Golar LNG Partners (NASDAQ:GMLP) from a hold rating to a sell rating in a report released on Friday morning.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

A number of other research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Golar LNG Partners from a buy rating to a strong-buy rating in a research note on Friday, September 1st. Stifel Nicolaus reiterated a hold rating on shares of Golar LNG Partners in a research note on Friday, September 22nd. ABN Amro began coverage on shares of Golar LNG Partners in a research note on Monday, October 30th. They issued a buy rating for the company. Finally, Jefferies Group reiterated a buy rating on shares of Golar LNG Partners in a research note on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $23.25.

Shares of Golar LNG Partners (NASDAQ GMLP) traded up $0.06 during mid-day trading on Friday, hitting $20.05. 222,600 shares of the company were exchanged, compared to its average volume of 317,217. The company has a quick ratio of 1.00, a current ratio of 1.01 and a debt-to-equity ratio of 1.95. The firm has a market capitalization of $1,416.76, a PE ratio of 6.75, a P/E/G ratio of 1.23 and a beta of 0.88. Golar LNG Partners has a 52-week low of $18.77 and a 52-week high of $25.82.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, October 30th were paid a $0.5775 dividend. The ex-dividend date of this dividend was Friday, October 27th. This represents a $2.31 dividend on an annualized basis and a yield of 11.52%. Golar LNG Partners’s dividend payout ratio is currently 77.78%.

Several large investors have recently modified their holdings of GMLP. First Trust Advisors LP purchased a new stake in shares of Golar LNG Partners during the 2nd quarter worth approximately $9,812,000. Goldman Sachs Group Inc. raised its position in Golar LNG Partners by 96.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 916,507 shares of the shipping company’s stock valued at $18,394,000 after purchasing an additional 449,868 shares during the last quarter. Huber Capital Management LLC raised its position in Golar LNG Partners by 14.2% in the 2nd quarter. Huber Capital Management LLC now owns 1,764,626 shares of the shipping company’s stock valued at $35,416,000 after purchasing an additional 219,511 shares during the last quarter. JPMorgan Chase & Co. raised its position in Golar LNG Partners by 37.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock valued at $15,110,000 after purchasing an additional 181,868 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new stake in Golar LNG Partners in the 2nd quarter valued at $2,821,000. Institutional investors and hedge funds own 46.85% of the company’s stock.

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About Golar LNG Partners

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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