Stock Traders Purchase Large Volume of Teekay LNG Partners Call Options (NYSE:TGP)

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.

The business also recently announced a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Thursday, August 5th were paid a $0.287 dividend. The ex-dividend date of this dividend was Wednesday, August 4th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 6.68%. Teekay LNG Partners’s payout ratio is 46.94%.

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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