Teekay LNG Partners (NYSE:TGP) PT Raised to $17.00 at B. Riley

Teekay LNG Partners (NYSE:TGP) had its target price increased by investment analysts at B. Riley from $15.50 to $17.00 in a report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the shipping company’s stock. B. Riley’s price target would indicate a potential upside of 14.32% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group increased their target price on shares of Teekay LNG Partners from $12.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday, January 29th. Zacks Investment Research upgraded Teekay LNG Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, April 30th.

Shares of NYSE TGP opened at $14.87 on Friday. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 13.40 and a beta of 1.35. The business has a 50 day simple moving average of $14.83 and a 200 day simple moving average of $13.11. Teekay LNG Partners has a 52 week low of $10.06 and a 52 week high of $15.51. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.45 and a current ratio of 0.45.

Teekay LNG Partners (NYSE:TGP) last posted its earnings results on Thursday, May 13th. The shipping company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.04. Teekay LNG Partners had a net margin of 20.41% and a return on equity of 15.23%. The firm had revenue of $152.80 million during the quarter, compared to analysts’ expectations of $147.75 million. During the same period in the previous year, the company earned $0.58 earnings per share. The company’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Teekay LNG Partners will post 2.41 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in TGP. Vanguard Capital Wealth Advisors bought a new stake in Teekay LNG Partners during the fourth quarter valued at about $356,000. Koshinski Asset Management Inc. bought a new stake in Teekay LNG Partners during the 4th quarter valued at approximately $164,000. WealthTrust Axiom LLC acquired a new stake in Teekay LNG Partners in the 4th quarter valued at approximately $237,000. NBW Capital LLC bought a new position in Teekay LNG Partners in the 4th quarter worth approximately $3,328,000. Finally, HighTower Advisors LLC acquired a new position in shares of Teekay LNG Partners during the fourth quarter worth approximately $702,000. Hedge funds and other institutional investors own 23.07% of the company’s stock.

About Teekay LNG Partners

Teekay LNG Partners L.P. provides marine transportation services focusing on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) worldwide. It operates in two segments, LNG and LPG. The company transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

The Fly

Receive News & Ratings for Teekay LNG Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay LNG Partners and related companies with MarketBeat.com's FREE daily email newsletter.