KCG Holdings Inc. purchased a new position in Golar LNG Partners LP (NASDAQ:GMLP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,417 shares of the shipping company’s stock, valued at approximately $300,000.
Other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its stake in Golar LNG Partners by 21.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,035 shares of the shipping company’s stock valued at $112,000 after buying an additional 890 shares during the period. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Golar LNG Partners during the first quarter worth about $201,000. Alliancebernstein L.P. purchased a new stake in shares of Golar LNG Partners during the first quarter worth about $216,000. Winslow Evans & Crocker Inc. increased its stake in shares of Golar LNG Partners by 46.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 11,876 shares of the shipping company’s stock worth $265,000 after buying an additional 3,750 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Golar LNG Partners by 13.9% in the first quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock worth $271,000 after buying an additional 1,474 shares during the last quarter. 77.02% of the stock is currently owned by institutional investors.
Shares of Golar LNG Partners LP (NASDAQ:GMLP) traded down 0.05% during trading on Friday, reaching $20.00. The company’s stock had a trading volume of 263,430 shares. Golar LNG Partners LP has a one year low of $18.13 and a one year high of $25.82. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 7.20 and a beta of 0.93. The company has a 50-day moving average price of $20.98 and a 200-day moving average price of $21.63.
Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings results on Wednesday, May 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by $0.11. Golar LNG Partners had a return on equity of 28.97% and a net margin of 40.50%. The firm had revenue of $101.39 million for the quarter, compared to the consensus estimate of $100.79 million. On average, equities research analysts forecast that Golar LNG Partners LP will post $2.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date of this dividend was Wednesday, August 2nd. Golar LNG Partners’s payout ratio is 82.21%.
Several research firms recently weighed in on GMLP. Zacks Investment Research upgraded shares of Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, April 25th. BidaskClub upgraded shares of Golar LNG Partners from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target on shares of Golar LNG Partners in a research report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and set a $26.00 price target on shares of Golar LNG Partners in a research report on Monday, June 12th. Finally, Seaport Global Securities restated a “neutral” rating and issued a $22.00 target price on shares of Golar LNG Partners in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $23.25.
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 time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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