Zacks Investment Research upgraded shares of Dynagas LNG Partners LP (NYSE:DLNG) from a strong sell rating to a hold rating in a research note published on Tuesday, August 8th.
According to Zacks, “Dynagas LNG Partners LP is focused on owning and operating LNG carriers that are employed on multi-year contracts with international energy companies. Dynagas LNG Partners LP is based in Glyfada, Greece. “
A number of other brokerages have also recently issued reports on DLNG. Maxim Group set a $20.00 target price on shares of Dynagas LNG Partners and gave the company a buy rating in a research report on Monday, May 22nd. Stifel Nicolaus boosted their target price on shares of Dynagas LNG Partners from $18.00 to $19.00 and gave the company a buy rating in a research report on Tuesday, July 4th. Morgan Stanley cut their price objective on shares of Dynagas LNG Partners to $13.00 and set an equal weight rating for the company in a research report on Tuesday, June 13th. BidaskClub cut shares of Dynagas LNG Partners from a hold rating to a sell rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $19.00 price objective on shares of Dynagas LNG Partners in a research report on Monday, June 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Dynagas LNG Partners presently has a consensus rating of Hold and a consensus target price of $16.25.
Dynagas LNG Partners (NYSE DLNG) traded down 0.28% on Tuesday, reaching $14.06. 53,832 shares of the company’s stock traded hands. The stock’s 50 day moving average is $14.86 and its 200 day moving average is $15.82. The firm has a market cap of $499.48 million, a price-to-earnings ratio of 8.94 and a beta of 1.10. Dynagas LNG Partners has a 52-week low of $12.76 and a 52-week high of $17.93.
Dynagas LNG Partners (NYSE:DLNG) last issued its earnings results on Thursday, June 8th. The shipping company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. The business had revenue of $39.09 million for the quarter, compared to the consensus estimate of $40.38 million. Dynagas LNG Partners had a net margin of 37.68% and a return on equity of 23.74%. On average, equities research analysts predict that Dynagas LNG Partners will post $1.02 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of DLNG. Van ECK Associates Corp acquired a new position in shares of Dynagas LNG Partners during the first quarter valued at approximately $4,484,000. Clearbridge Investments LLC increased its position in shares of Dynagas LNG Partners by 16.3% in the first quarter. Clearbridge Investments LLC now owns 1,469,530 shares of the shipping company’s stock valued at $25,893,000 after buying an additional 205,730 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Dynagas LNG Partners by 1,073.9% in the fourth quarter. Renaissance Technologies LLC now owns 160,824 shares of the shipping company’s stock valued at $2,570,000 after buying an additional 147,124 shares during the last quarter. Bank of America Corp DE increased its position in Dynagas LNG Partners by 10.4% in the first quarter. Bank of America Corp DE now owns 638,715 shares of the shipping company’s stock valued at $11,254,000 after buying an additional 60,224 shares in the last quarter. Finally, Arrow Investment Advisors LLC purchased a new position in Dynagas LNG Partners during the second quarter valued at about $610,000. 21.01% of the stock is owned by hedge funds and other institutional investors.
Dynagas LNG Partners Company Profile
Dynagas LNG Partners LP is a limited partnership, which focuses on owning and operating liquid natural gas (LNG) carriers. The Company’s vessels are employed on multi-year time charters with international energy companies. As of December 31, 2016, the Company owned and operated a fleet of six LNG carriers, consisting of the three LNG carriers in its Initial Fleet, the Clean Energy, the Ob River and the Amur River, and three 2013-built Ice Class LNG carriers that the Company acquired from its Sponsor the Arctic Aurora, the Yenisei River, and the Lena River (collectively referred as its Fleet).
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