JPMorgan Chase & Co. grew its holdings in shares of Golar LNG Partners LP (NASDAQ:GMLP) by 21.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 965,708 shares of the shipping company’s stock after buying an additional 167,615 shares during the period. JPMorgan Chase & Co.’s holdings in Golar LNG Partners were worth $16,523,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of GMLP. Cetera Advisors LLC purchased a new position in shares of Golar LNG Partners during the fourth quarter valued at approximately $201,000. Koch Industries Inc. purchased a new position in shares of Golar LNG Partners during the fourth quarter valued at approximately $239,000. Wedbush Securities Inc. purchased a new position in shares of Golar LNG Partners during the first quarter valued at approximately $252,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Golar LNG Partners by 47.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 19,541 shares of the shipping company’s stock valued at $446,000 after buying an additional 6,300 shares during the period. Finally, Wasatch Advisors Inc. increased its stake in shares of Golar LNG Partners by 53.0% during the first quarter. Wasatch Advisors Inc. now owns 30,300 shares of the shipping company’s stock valued at $518,000 after buying an additional 10,500 shares during the period. 41.49% of the stock is currently owned by hedge funds and other institutional investors.
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Golar LNG Partners opened at $15.52 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.71 and a current ratio of 1.73. The company has a market cap of $1.08 billion, a P/E ratio of 8.26, a PEG ratio of 1.62 and a beta of 0.84. Golar LNG Partners LP has a twelve month low of $14.27 and a twelve month high of $23.46.
Golar LNG Partners (NASDAQ:GMLP) last posted its earnings results on Thursday, May 31st. The shipping company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. The firm had revenue of $74.21 million during the quarter, compared to analyst estimates of $77.64 million. Golar LNG Partners had a net margin of 29.68% and a return on equity of 16.74%. research analysts predict that Golar LNG Partners LP will post 1.2 EPS for the current fiscal year.
Golar LNG Partners declared that its board has initiated a share repurchase plan on Monday, March 5th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the shipping company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several equities analysts have recently issued reports on GMLP shares. Stifel Nicolaus reduced their target price on Golar LNG Partners from $25.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, June 1st. Bank of America dropped their price target on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, March 5th. BidaskClub upgraded Golar LNG Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research upgraded Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Finally, Seaport Global Securities restated a “hold” rating and set a $21.00 price target on shares of Golar LNG Partners in a research report on Tuesday, February 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.80.
About Golar LNG Partners
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs), liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company also engages in the leasing of its fleets.
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