Teekay LNG Partners L.P. (NYSE:TGP) saw unusually large options trading on Wednesday. Stock traders bought 6,453 call options on the stock. This represents an increase of 2,148% compared to the average daily volume of 287 call options.
TGP opened at $17.18 on Thursday. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 7.99 and a beta of 1.24. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.45. Teekay LNG Partners has a 12 month low of $10.12 and a 12 month high of $17.24. The stock has a fifty day moving average price of $15.30 and a 200-day moving average price of $15.11.
Teekay LNG Partners (NYSE:TGP) last announced its earnings results on Thursday, August 5th. The shipping company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.06). The business had revenue of $142.41 million for the quarter, compared to analyst estimates of $139.53 million. Teekay LNG Partners had a net margin of 35.78% and a return on equity of 15.62%. On average, equities research analysts forecast that Teekay LNG Partners will post 2.45 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of TGP. Sanders Morris Harris LLC boosted its position in Teekay LNG Partners by 3.9% during the third quarter. Sanders Morris Harris LLC now owns 17,450 shares of the shipping company’s stock worth $271,000 after purchasing an additional 650 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Teekay LNG Partners by 8.3% in the second quarter. Advisor Group Holdings Inc. now owns 11,153 shares of the shipping company’s stock valued at $169,000 after acquiring an additional 855 shares in the last quarter. Monetary Management Group Inc. increased its holdings in shares of Teekay LNG Partners by 11.5% in the second quarter. Monetary Management Group Inc. now owns 14,500 shares of the shipping company’s stock valued at $219,000 after purchasing an additional 1,500 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Teekay LNG Partners by 1.2% in the second quarter. Wells Fargo & Company MN now owns 139,053 shares of the shipping company’s stock valued at $2,099,000 after purchasing an additional 1,635 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in shares of Teekay LNG Partners in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 21.45% of the company’s stock.
Several research analysts have issued reports on TGP shares. Stifel Nicolaus cut Teekay LNG Partners from a “buy” rating to a “hold” rating and dropped their target price for the stock from $18.00 to $17.00 in a research report on Tuesday, October 5th. Jefferies Financial Group set a $15.03 target price on Teekay LNG Partners and gave the company a “neutral” rating in a research note on Tuesday, July 13th. Jonestrading downgraded Teekay LNG Partners from a “buy” rating to a “hold” rating in a research note on Monday, October 4th. Zacks Investment Research raised Teekay LNG Partners from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, B. Riley downgraded Teekay LNG Partners from a “buy” rating to a “neutral” rating in a research note on Monday, October 4th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.01.
Teekay LNG Partners Company Profile
Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: LNG, LPG and conventional tanker. The company was founded on November 3, 2004 and is headquartered in Hamilton, Bermuda.
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