Boston Private Wealth LLC Increases Position in Höegh LNG Partners LP (NYSE:HMLP)

Boston Private Wealth LLC raised its position in Höegh LNG Partners LP (NYSE:HMLP) by 78.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,317 shares of the shipping company’s stock after purchasing an additional 19,950 shares during the period. Boston Private Wealth LLC owned 0.14% of Höegh LNG Partners worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Sowell Financial Services LLC purchased a new stake in shares of Höegh LNG Partners in the 1st quarter valued at approximately $777,000. Trustcore Financial Services LLC increased its position in shares of Höegh LNG Partners by 51.6% in the 1st quarter. Trustcore Financial Services LLC now owns 4,395 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 1,495 shares during the last quarter. Morgan Stanley increased its position in shares of Höegh LNG Partners by 48.1% in the 4th quarter. Morgan Stanley now owns 301,248 shares of the shipping company’s stock valued at $4,307,000 after purchasing an additional 97,781 shares during the last quarter. Finally, Sigma Planning Corp increased its position in shares of Höegh LNG Partners by 12.9% in the 4th quarter. Sigma Planning Corp now owns 35,022 shares of the shipping company’s stock valued at $501,000 after purchasing an additional 3,992 shares during the last quarter. 18.25% of the stock is currently owned by institutional investors.

Shares of Höegh LNG Partners stock opened at $17.07 on Friday. Höegh LNG Partners LP has a 1 year low of $9.11 and a 1 year high of $17.67. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $568.57 million, a P/E ratio of 8.29, a P/E/G ratio of 1.57 and a beta of 1.83. The stock’s fifty day simple moving average is $16.25.

Höegh LNG Partners (NYSE:HMLP) last issued its quarterly earnings data on Wednesday, May 26th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.21. Höegh LNG Partners had a net margin of 57.73% and a return on equity of 21.32%. As a group, sell-side analysts anticipate that Höegh LNG Partners LP will post 1.72 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 14th. Shareholders of record on Thursday, May 6th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 10.31%. The ex-dividend date was Wednesday, May 5th. Höegh LNG Partners’s payout ratio is currently 101.15%.

A number of research firms recently commented on HMLP. Danske raised shares of Höegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, March 10th. Bank of America downgraded shares of Höegh LNG Partners from a “buy” rating to an “underperform” rating and dropped their target price for the company from $17.00 to $16.00 in a research report on Friday, February 26th. Kepler Capital Markets reaffirmed a “buy” rating on shares of Höegh LNG Partners in a research report on Friday, April 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Höegh LNG Partners from $13.00 to $15.00 and gave the company a “sell” rating in a research report on Wednesday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Höegh LNG Partners currently has an average rating of “Hold” and a consensus target price of $14.60.

Höegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2021, it had a fleet of five FSRUs.

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Institutional Ownership by Quarter for Höegh LNG Partners (NYSE:HMLP)

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