UBS AG Trims Teekay LNG Partners L.P. (TGP) Target Price to $24.00
Teekay LNG Partners L.P. (NYSE:TGP) had its price target trimmed by UBS AG from $26.00 to $24.00 in a report issued on Friday, November 10th, www.benzinga.com reports. The brokerage currently has a buy rating on the shipping company’s stock.
Several other equities analysts also recently issued reports on TGP. ValuEngine downgraded shares of Teekay LNG Partners from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Zacks Investment Research downgraded shares of Teekay LNG Partners from a hold rating to a strong sell rating in a research note on Friday, July 28th. TheStreet downgraded shares of Teekay LNG Partners from a b- rating to a c rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a hold rating and set a $16.00 price objective on shares of Teekay LNG Partners in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $17.50.
Shares of Teekay LNG Partners (NYSE TGP) traded up $0.05 on Friday, hitting $17.25. 32,515 shares of the company traded hands, compared to its average volume of 203,387. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1,369.58, a P/E ratio of 19.77 and a beta of 1.26. Teekay LNG Partners has a fifty-two week low of $13.80 and a fifty-two week high of $19.90.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 10th. Investors of record on Friday, November 3rd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Thursday, November 2nd. Teekay LNG Partners’s payout ratio is 68.29%.
A number of large investors have recently bought and sold shares of TGP. Alliancebernstein L.P. raised its stake in Teekay LNG Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 13,333 shares of the shipping company’s stock worth $205,000 after purchasing an additional 746 shares during the period. Virtu KCG Holdings LLC purchased a new position in Teekay LNG Partners during the second quarter worth approximately $249,000. Toronto Dominion Bank raised its stake in Teekay LNG Partners by 103.7% during the third quarter. Toronto Dominion Bank now owns 14,411 shares of the shipping company’s stock worth $256,000 after purchasing an additional 403,411 shares during the period. Evergreen Capital Management LLC purchased a new position in Teekay LNG Partners during the third quarter worth approximately $306,000. Finally, CNH Partners LLC raised its stake in Teekay LNG Partners by 1.0% during the second quarter. CNH Partners LLC now owns 20,519 shares of the shipping company’s stock worth $315,000 after purchasing an additional 200 shares during the period. 37.99% of the stock is currently owned by institutional investors.