Brokerages predict that Teekay Lng Partners, L.P. (NYSE:TGP) will post $142.20 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Teekay Lng Partners’ earnings. The lowest sales estimate is $142.06 million and the highest is $142.34 million. Teekay Lng Partners reported sales of $147.04 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.3%. The business is expected to issue its next earnings report on Thursday, August 6th.
On average, analysts expect that Teekay Lng Partners will report full year sales of $569.06 million for the current year, with estimates ranging from $565.55 million to $572.51 million. For the next fiscal year, analysts anticipate that the company will post sales of $565.97 million, with estimates ranging from $562.93 million to $568.43 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Teekay Lng Partners.
Teekay Lng Partners (NYSE:TGP) last released its earnings results on Thursday, May 21st. The shipping company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.08). The firm had revenue of $139.90 million during the quarter, compared to analysts’ expectations of $144.54 million. Teekay Lng Partners had a return on equity of 12.09% and a net margin of 16.60%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share.
A number of institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. purchased a new stake in Teekay Lng Partners during the 4th quarter worth $3,524,000. Credit Suisse AG boosted its position in Teekay Lng Partners by 0.3% during the 4th quarter. Credit Suisse AG now owns 311,665 shares of the shipping company’s stock worth $4,850,000 after purchasing an additional 928 shares during the period. Baldwin Investment Management LLC boosted its position in Teekay Lng Partners by 13.0% during the 1st quarter. Baldwin Investment Management LLC now owns 27,725 shares of the shipping company’s stock worth $271,000 after purchasing an additional 3,185 shares during the period. SeaBridge Investment Advisors LLC boosted its position in Teekay Lng Partners by 85.7% during the 4th quarter. SeaBridge Investment Advisors LLC now owns 13,000 shares of the shipping company’s stock worth $202,000 after purchasing an additional 6,000 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its position in Teekay Lng Partners by 333.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 9,102 shares of the shipping company’s stock worth $89,000 after purchasing an additional 7,000 shares during the period. 32.19% of the stock is owned by hedge funds and other institutional investors.
TGP stock traded up $0.22 during midday trading on Monday, hitting $11.75. The stock had a trading volume of 265,868 shares, compared to its average volume of 261,667. Teekay Lng Partners has a 12-month low of $7.00 and a 12-month high of $16.74. The company’s 50-day moving average price is $10.82 and its 200 day moving average price is $12.85. The firm has a market cap of $893.68 million, a PE ratio of 13.06 and a beta of 1.56. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, April 30th. This is a boost from Teekay Lng Partners’s previous quarterly dividend of $0.19. This represents a $1.00 annualized dividend and a dividend yield of 8.51%. Teekay Lng Partners’s payout ratio is currently 55.87%.
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.
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