Teekay Lng Partners, L.P. (NYSE:TGP) Short Interest Up 29.2% in August
Teekay Lng Partners, L.P. (NYSE:TGP) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 821,900 shares, an increase of 29.2% from the July 31st total of 636,000 shares. Based on an average daily trading volume, of 184,500 shares, the short-interest ratio is currently 4.5 days. Currently, 1.6% of the company’s stock are short sold.
Shares of Teekay Lng Partners stock traded up $0.15 during trading hours on Friday, reaching $16.20. 64,447 shares of the company’s stock were exchanged, compared to its average volume of 199,897. The company has a 50 day moving average of $14.59 and a two-hundred day moving average of $14.48. Teekay Lng Partners has a fifty-two week low of $10.74 and a fifty-two week high of $17.50. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.84. The stock has a market cap of $1.26 billion, a P/E ratio of 21.32 and a beta of 1.49.
Teekay Lng Partners (NYSE:TGP) last issued its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.02. The company had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $155.70 million. Teekay Lng Partners had a net margin of 12.72% and a return on equity of 7.14%. The firm’s revenue was up 25.2% on a year-over-year basis. As a group, analysts expect that Teekay Lng Partners will post 1.79 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of TGP. Oppenheimer Asset Management Inc. bought a new stake in shares of Teekay Lng Partners in the 1st quarter valued at about $30,000. Bank of Montreal Can raised its holdings in shares of Teekay Lng Partners by 34.3% in the 1st quarter. Bank of Montreal Can now owns 108,770 shares of the shipping company’s stock valued at $1,628,000 after purchasing an additional 27,760 shares during the period. Boston Partners raised its holdings in shares of Teekay Lng Partners by 9.7% in the 1st quarter. Boston Partners now owns 124,751 shares of the shipping company’s stock valued at $1,866,000 after purchasing an additional 11,025 shares during the period. Thornburg Investment Management Inc. raised its holdings in shares of Teekay Lng Partners by 18.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 3,794,476 shares of the shipping company’s stock valued at $56,765,000 after purchasing an additional 601,453 shares during the period. Finally, Icon Wealth Partners LLC bought a new stake in shares of Teekay Lng Partners in the 1st quarter valued at about $40,000. 31.18% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on TGP. ValuEngine downgraded shares of Teekay Lng Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. 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. Finally, TheStreet upgraded shares of Teekay Lng Partners from a “d+” rating to a “c” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $17.00.
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.
Further Reading: What Factors Can Affect Return on Equity?
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.