Wall Street analysts expect that Teekay Lng Partners, L.P. (NYSE:TGP) will report $0.35 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Teekay Lng Partners’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.32. Teekay Lng Partners reported earnings per share of $0.09 in the same quarter last year, which suggests a positive year-over-year growth rate of 288.9%. The company is scheduled to announce its next earnings results on Thursday, August 1st.
On average, analysts expect that Teekay Lng Partners will report full year earnings of $1.75 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.90. For the next year, analysts forecast that the firm will report earnings of $2.24 per share, with EPS estimates ranging from $1.92 to $2.49. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last issued its quarterly earnings results on Thursday, May 23rd. The shipping company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $149.74 million for the quarter, compared to the consensus estimate of $151.96 million. Teekay Lng Partners had a net margin of 10.92% and a return on equity of 5.75%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS.
A number of equities research analysts recently issued reports on TGP shares. TheStreet cut Teekay Lng Partners from a “c” rating to a “d+” rating in a research note on Friday, February 22nd. ValuEngine upgraded Teekay Lng Partners from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research cut Teekay Lng Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Teekay Lng Partners currently has a consensus rating of “Hold” and an average target price of $17.00.
A number of institutional investors have recently made changes to their positions in TGP. Thornburg Investment Management Inc. raised its stake in Teekay Lng Partners by 18.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 3,794,476 shares of the shipping company’s stock valued at $56,765,000 after acquiring an additional 601,453 shares during the period. Beach Investment Counsel Inc. PA increased its position in shares of Teekay Lng Partners by 85.7% during the first quarter. Beach Investment Counsel Inc. PA now owns 1,236,547 shares of the shipping company’s stock valued at $18,499,000 after buying an additional 570,588 shares during the period. FMR LLC increased its position in shares of Teekay Lng Partners by 3.4% during the fourth quarter. FMR LLC now owns 7,970,001 shares of the shipping company’s stock valued at $87,829,000 after buying an additional 260,528 shares during the period. Royce & Associates LP increased its position in shares of Teekay Lng Partners by 30.5% during the fourth quarter. Royce & Associates LP now owns 794,680 shares of the shipping company’s stock valued at $8,757,000 after buying an additional 185,500 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in shares of Teekay Lng Partners during the fourth quarter valued at about $1,938,000. Institutional investors and hedge funds own 28.75% of the company’s stock.
Teekay Lng Partners stock traded down $0.05 during midday trading on Friday, reaching $13.31. The stock had a trading volume of 232,300 shares, compared to its average volume of 257,914. Teekay Lng Partners has a 12 month low of $10.74 and a 12 month high of $17.50. The stock has a market capitalization of $1.05 billion, a P/E ratio of 17.50 and a beta of 1.52. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.89 and a current ratio of 0.89.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.19 dividend. This is a boost from Teekay Lng Partners’s previous quarterly dividend of $0.14. This represents a $0.76 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date was Monday, May 6th. Teekay Lng Partners’s payout ratio is currently 100.00%.
About Teekay Lng Partners
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 three segments: The Liquefied Natural Gas, The Liquefied Petroleum Gas, and The Conventional Tanker. It transports liquid petroleum gases, including propane, butane, and ethane; petrochemical gases, such as ethylene, propylene, and butadiene; and ammonia.
Featured Story: Float
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Teekay Lng Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay Lng Partners and related companies with MarketBeat.com's FREE daily email newsletter.