Höegh LNG Partners LP Receives Consensus Recommendation of “Hold” from Brokerages
Höegh LNG Partners LP (NYSE:HMLP) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $14.75.
A number of brokerages have recently issued reports on HMLP. Zacks Investment Research upgraded shares of Höegh LNG Partners from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday, November 25th. Kepler Capital Markets reissued a “buy” rating on shares of Höegh LNG Partners in a report on Sunday, December 20th. Finally, Barclays raised their target price on Höegh LNG Partners from $14.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, November 20th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in shares of Höegh LNG Partners in the third quarter valued at approximately $167,000. California Public Employees Retirement System lifted its stake in Höegh LNG Partners by 36.9% in the second quarter. California Public Employees Retirement System now owns 38,989 shares of the shipping company’s stock valued at $379,000 after purchasing an additional 10,500 shares during the last quarter. Bank of America Corp DE lifted its stake in Höegh LNG Partners by 16.4% in the second quarter. Bank of America Corp DE now owns 59,408 shares of the shipping company’s stock valued at $578,000 after purchasing an additional 8,391 shares during the last quarter. Stifel Financial Corp grew its holdings in Höegh LNG Partners by 6.4% during the second quarter. Stifel Financial Corp now owns 64,251 shares of the shipping company’s stock valued at $625,000 after purchasing an additional 3,875 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in Höegh LNG Partners by 116.9% in the second quarter. Commonwealth Equity Services LLC now owns 71,948 shares of the shipping company’s stock worth $700,000 after buying an additional 38,773 shares during the last quarter. Hedge funds and other institutional investors own 20.81% of the company’s stock.
Shares of HMLP stock opened at $14.30 on Friday. The firm has a 50 day moving average of $13.94 and a 200-day moving average of $11.58. The company has a market cap of $475.70 million, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 1.55 and a beta of 1.87. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.19. Höegh LNG Partners has a 52 week low of $4.67 and a 52 week high of $16.84.
Höegh LNG Partners (NYSE:HMLP) last posted its quarterly earnings results on Wednesday, November 18th. The shipping company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Höegh LNG Partners had a net margin of 43.54% and a return on equity of 20.74%. The business had revenue of $35.91 million during the quarter, compared to analysts’ expectations of $35.69 million. Analysts anticipate that Höegh LNG Partners will post 1.82 earnings per share for the current year.