Golar LNG Partners LP (NASDAQ:GMLP) Sees Large Increase in Short Interest
Golar LNG Partners LP (NASDAQ:GMLP) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 1,570,000 shares, a growth of 23.6% from the January 15th total of 1,270,000 shares. Based on an average daily trading volume, of 345,300 shares, the short-interest ratio is presently 4.5 days. Currently, 3.2% of the shares of the company are sold short.
Several equities research analysts have recently commented on the stock. Odeon Capital Group downgraded shares of Golar LNG Partners from a “hold” rating to a “sell” rating and set a $5.00 price objective for the company. in a research note on Tuesday, February 4th. ValuEngine downgraded shares of Golar LNG Partners from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. BidaskClub downgraded shares of Golar LNG Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 12th. Finally, Zacks Investment Research downgraded shares of Golar LNG Partners from a “buy” rating to a “strong sell” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $9.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Golar LNG Partners by 207.7% during the 4th quarter. Renaissance Technologies LLC now owns 660,400 shares of the shipping company’s stock valued at $5,838,000 after acquiring an additional 445,800 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX grew its stake in Golar LNG Partners by 27.0% during the 4th quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 17,006 shares of the shipping company’s stock valued at $150,000 after acquiring an additional 3,612 shares in the last quarter. Rafferty Asset Management LLC grew its stake in Golar LNG Partners by 11.9% during the 4th quarter. Rafferty Asset Management LLC now owns 209,849 shares of the shipping company’s stock valued at $1,855,000 after acquiring an additional 22,369 shares in the last quarter. Arrow Investment Advisors LLC grew its stake in Golar LNG Partners by 13.3% during the 4th quarter. Arrow Investment Advisors LLC now owns 44,004 shares of the shipping company’s stock valued at $389,000 after acquiring an additional 5,165 shares in the last quarter. Finally, Regent Investment Management LLC purchased a new stake in Golar LNG Partners during the 4th quarter valued at about $142,000. 33.50% of the stock is owned by institutional investors.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Tuesday, November 26th. The shipping company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.18). Golar LNG Partners had a negative net margin of 10.41% and a positive return on equity of 2.83%. The business had revenue of $74.13 million for the quarter, compared to analyst estimates of $76.47 million. Equities analysts forecast that Golar LNG Partners will post 0.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, February 7th will be paid a dividend of $0.4042 per share. This represents a $1.62 annualized dividend and a yield of 32.34%. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost from Golar LNG Partners’s previous quarterly dividend of $0.40. Golar LNG Partners’s dividend payout ratio is currently 154.29%.
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 charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.
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