Zacks: Brokerages Expect Höegh LNG Partners LP (NYSE:HMLP) Will Post Quarterly Sales of $35.48 Million

Analysts forecast that Höegh LNG Partners LP (NYSE:HMLP) will report sales of $35.48 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Höegh LNG Partners’ earnings. The lowest sales estimate is $35.10 million and the highest is $35.85 million. Höegh LNG Partners reported sales of $36.06 million in the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The company is expected to issue its next quarterly earnings report on Thursday, February 24th.

According to Zacks, analysts expect that Höegh LNG Partners will report full-year sales of $140.54 million for the current fiscal year, with estimates ranging from $140.17 million to $140.92 million. For the next fiscal year, analysts anticipate that the firm will post sales of $131.32 million, with estimates ranging from $122.28 million to $140.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Höegh LNG Partners.

Höegh LNG Partners (NYSE:HMLP) last issued its earnings results on Thursday, November 18th. The shipping company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. Höegh LNG Partners had a net margin of 44.18% and a return on equity of 15.83%. During the same quarter last year, the company posted $0.42 earnings per share.

A number of equities research analysts have issued reports on HMLP shares. B. Riley lowered shares of Höegh LNG Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $19.00 to $7.00 in a research note on Wednesday, July 28th. Zacks Investment Research raised shares of Höegh LNG Partners from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Monday. Finally, Barclays lowered shares of Höegh LNG Partners from an “overweight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $10.00 in a research note on Wednesday, July 28th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.65.

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its holdings in Höegh LNG Partners by 65.0% in the 3rd quarter. UBS Group AG now owns 8,813 shares of the shipping company’s stock worth $44,000 after acquiring an additional 3,472 shares during the period. JPMorgan Chase & Co. bought a new position in Höegh LNG Partners in the 1st quarter worth $135,000. Arkfeld Wealth Strategies L.L.C. bought a new position in Höegh LNG Partners in the 2nd quarter worth $178,000. Virtu Financial LLC bought a new position in Höegh LNG Partners in the 2nd quarter worth $184,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Höegh LNG Partners during the 3rd quarter worth about $65,000. Hedge funds and other institutional investors own 17.69% of the company’s stock.

Shares of NYSE:HMLP traded up $0.13 during trading on Thursday, reaching $4.57. 141,628 shares of the company traded hands, compared to its average volume of 294,686. The firm has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $9.78. The firm has a market cap of $152.22 million, a P/E ratio of 3.20, a price-to-earnings-growth ratio of 0.54 and a beta of 1.57. Höegh LNG Partners has a 1-year low of $4.17 and a 1-year high of $18.17. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 1.01.

The company also recently announced a quarterly dividend, which was paid on Monday, November 15th. Investors of record on Friday, October 29th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, October 28th. This represents a $0.04 annualized dividend and a yield of 0.88%. Höegh LNG Partners’s dividend payout ratio (DPR) is presently 2.80%.

About Höegh LNG Partners

Höegh LNG Partners LP engages in undertaking of floating storage and re-gasification units (FSRUs). It operates through the Majority Held FSRUs, and Joint Venture FSRUs segments. The Majority Held FSRUs segment includes the direct financing lease related to the PGN FSRU Lampung and the operating leases related to the Hoegh Gallant and the Hoegh Grace.

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