Teekay Lng Partners (NYSE:TGP) Trading Up 5.6%
Shares of Teekay Lng Partners, L.P. (NYSE:TGP) were up 5.6% during trading on Tuesday . The stock traded as high as $15.89 and last traded at $15.89, approximately 485,291 shares changed hands during trading. An increase of 110% from the average daily volume of 231,105 shares. The stock had previously closed at $15.05.
A number of research firms have weighed in on TGP. Zacks Investment Research downgraded shares of Teekay Lng Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, August 7th. TheStreet raised shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research report on Thursday, August 1st. Finally, ValuEngine downgraded Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $17.00.
The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 20.91 and a beta of 1.49. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.84. The business has a 50 day moving average price of $14.57 and a 200-day moving average price of $14.47.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.19 per share. The ex-dividend date was Monday, August 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.78%. Teekay Lng Partners’s dividend payout ratio is currently 100.00%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC lifted its position in shares of Teekay Lng Partners by 109.4% during the first quarter. Advisory Services Network LLC now owns 1,633 shares of the shipping company’s stock worth $25,000 after purchasing an additional 853 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Teekay Lng Partners during the 1st quarter worth $30,000. Icon Wealth Partners LLC purchased a new stake in Teekay Lng Partners during the 1st quarter worth $40,000. SeaBridge Investment Advisors LLC lifted its holdings in Teekay Lng Partners by 16.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 7,000 shares of the shipping company’s stock worth $99,000 after buying an additional 1,000 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Teekay Lng Partners by 101.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,889 shares of the shipping company’s stock valued at $126,000 after buying an additional 4,482 shares during the last quarter. Institutional investors own 31.18% of the company’s stock.
About Teekay Lng Partners (NYSE:TGP)
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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