Zacks Investment Research cut shares of Golar LNG Partners (NASDAQ:GMLP) from a buy rating to a sell rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

Several other research firms also recently commented on GMLP. BidaskClub upgraded shares of Zai Lab from a buy rating to a strong-buy rating in a report on Friday, June 28th. TheStreet downgraded shares of Zimmer Biomet from a b- rating to a c rating in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Golar LNG Partners currently has an average rating of Hold and a consensus target price of $13.83.

NASDAQ GMLP opened at $11.95 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.10 and a quick ratio of 1.08. The stock’s fifty day moving average price is $11.44. Golar LNG Partners has a 1 year low of $10.23 and a 1 year high of $16.99. The company has a market capitalization of $848.57 million, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.73 and a beta of 1.05.

Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings data on Tuesday, May 21st. The shipping company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.02). Golar LNG Partners had a net margin of 12.69% and a return on equity of 10.05%. The company had revenue of $68.05 million during the quarter, compared to analyst estimates of $70.94 million. As a group, sell-side analysts expect that Golar LNG Partners will post 0.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, August 7th will be issued a $0.404 dividend. The ex-dividend date is Tuesday, August 6th. This represents a $1.62 annualized dividend and a dividend yield of 13.52%. Golar LNG Partners’s dividend payout ratio is currently 154.29%.

Large investors have recently added to or reduced their stakes in the business. SeaBridge Investment Advisors LLC grew its stake in shares of Golar LNG Partners by 50.0% in the first quarter. SeaBridge Investment Advisors LLC now owns 6,000 shares of the shipping company’s stock valued at $77,000 after acquiring an additional 2,000 shares in the last quarter. Lavaca Capital LLC acquired a new position in shares of Golar LNG Partners in the first quarter valued at about $39,000. Geode Capital Management LLC grew its stake in shares of Golar LNG Partners by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 61,003 shares of the shipping company’s stock valued at $658,000 after acquiring an additional 3,101 shares in the last quarter. Sippican Capital Advisors grew its stake in shares of Golar LNG Partners by 25.9% in the first quarter. Sippican Capital Advisors now owns 15,920 shares of the shipping company’s stock valued at $206,000 after acquiring an additional 3,275 shares in the last quarter. Finally, Arrow Investment Advisors LLC grew its stake in shares of Golar LNG Partners by 27.3% in the first quarter. Arrow Investment Advisors LLC now owns 45,687 shares of the shipping company’s stock valued at $590,000 after acquiring an additional 9,804 shares in the last quarter. Hedge funds and other institutional investors own 32.69% of the company’s stock.

Golar LNG Partners Company Profile

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term charters in Brazil, Indonesia, Jordan, Kuwait, and the United Arab Emirates. As of March 15, 2019, it had a fleet of six FSRUs and four LNG carriers. Golar GP LLC serves as the general partner of Golar LNG Partners LP.

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