Equities research analysts forecast that Teekay Lng Partners, L.P. (NYSE:TGP) will post earnings per share (EPS) of $0.33 for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Teekay Lng Partners’ earnings, with estimates ranging from $0.21 to $0.38. Teekay Lng Partners posted earnings per share of $0.20 in the same quarter last year, which would suggest a positive year over year growth rate of 65%. The company is expected to report its next earnings results before the market opens on Thursday, May 23rd.
According to Zacks, analysts expect that Teekay Lng Partners will report full year earnings of $1.84 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $2.06. For the next year, analysts anticipate that the business will post earnings of $2.37 per share, with EPS estimates ranging from $1.86 to $2.84. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last posted its earnings results on Thursday, February 21st. The shipping company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Teekay Lng Partners had a return on equity of 5.01% and a net margin of 11.19%. The company had revenue of $143.28 million during the quarter, compared to analysts’ expectations of $138.17 million.
TGP has been the subject of several research reports. Morgan Stanley upgraded shares of Teekay Lng Partners from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $17.50 to $16.00 in a research note on Tuesday, January 22nd. TheStreet lowered shares of Teekay Lng Partners from a “c” rating to a “d+” rating in a research note on Friday, February 22nd. ValuEngine upgraded shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research lowered shares of Teekay Lng Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Teekay Lng Partners currently has an average rating of “Hold” and a consensus price target of $17.00.
Shares of NYSE:TGP traded up $0.16 on Thursday, hitting $14.45. The company had a trading volume of 89,100 shares, compared to its average volume of 261,133. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.91. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 19.03 and a beta of 1.55. Teekay Lng Partners has a 1 year low of $10.74 and a 1 year high of $17.90.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 5.26%. This is a positive change from Teekay Lng Partners’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, May 6th. Teekay Lng Partners’s dividend payout ratio (DPR) is presently 100.00%.
Several institutional investors have recently modified their holdings of TGP. Advisory Services Network LLC increased its stake in shares of Teekay Lng Partners by 109.4% in the 1st quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock worth $25,000 after acquiring an additional 853 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Teekay Lng Partners in the 1st quarter worth about $30,000. Rockefeller Capital Management L.P. increased its stake in shares of Teekay Lng Partners by 2,928.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,120 shares of the shipping company’s stock worth $32,000 after acquiring an additional 2,050 shares in the last quarter. Whittier Trust Co. bought a new stake in Teekay Lng Partners during the 1st quarter valued at about $34,000. Finally, Destination Wealth Management bought a new stake in Teekay Lng Partners during the 1st quarter valued at about $38,000. Institutional investors own 31.93% of the company’s stock.
Teekay Lng Partners Company Profile
Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
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