Spirit of America Management Corp NY lessened its holdings in Teekay Lng Partners, L.P. (NYSE:TGP) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 216,461 shares of the shipping company’s stock after selling 4,400 shares during the period. Spirit of America Management Corp NY owned about 0.27% of Teekay Lng Partners worth $3,238,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Teekay Lng Partners by 21.2% during the third quarter. Wells Fargo & Company MN now owns 193,278 shares of the shipping company’s stock valued at $3,228,000 after acquiring an additional 33,799 shares during the last quarter. LPL Financial LLC purchased a new stake in Teekay Lng Partners during the third quarter valued at approximately $218,000. Rafferty Asset Management LLC purchased a new stake in Teekay Lng Partners during the fourth quarter valued at approximately $1,515,000. Hsbc Holdings PLC purchased a new stake in Teekay Lng Partners during the fourth quarter valued at approximately $1,938,000. Finally, Renaissance Technologies LLC lifted its position in Teekay Lng Partners by 69.2% during the third quarter. Renaissance Technologies LLC now owns 352,500 shares of the shipping company’s stock valued at $5,887,000 after acquiring an additional 144,200 shares during the last quarter. 31.32% of the stock is owned by hedge funds and other institutional investors.
Teekay Lng Partners stock traded down $0.06 during mid-day trading on Wednesday, reaching $15.17. 413 shares of the company traded hands, compared to its average volume of 210,254. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 1.91. Teekay Lng Partners, L.P. has a fifty-two week low of $10.74 and a fifty-two week high of $18.80. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 20.12 and a beta of 1.57.
Teekay Lng Partners (NYSE:TGP) last issued its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.02). Teekay Lng Partners had a net margin of 11.19% and a return on equity of 5.01%. The company had revenue of $143.28 million for the quarter, compared to analyst estimates of $138.17 million. On average, sell-side analysts predict that Teekay Lng Partners, L.P. will post 1.85 EPS for the current fiscal year.
TGP has been the subject of a number of analyst reports. Morgan Stanley raised shares of Teekay Lng Partners from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $17.50 to $16.00 in a research report on Tuesday, January 22nd. TheStreet cut shares of Teekay Lng Partners from a “c” rating to a “d+” rating in a research report on Friday, February 22nd. ValuEngine raised shares of Teekay Lng Partners from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Zacks Investment Research cut shares of Teekay Lng Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, February 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.00.
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Teekay Lng Partners Profile
Teekay LNG Partners L.P. provides marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil worldwide. The company operates through two segments, Liquefied Gas and Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
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