Höegh LNG Partners (NYSE:HMLP) Rating Lowered to Hold at StockNews.com

Höegh LNG Partners (NYSE:HMLPGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

Several other equities research analysts have also recently weighed in on HMLP. Zacks Investment Research raised shares of Höegh LNG Partners from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research report on Thursday, March 31st. Stifel Nicolaus raised Höegh LNG Partners from a “hold” rating to a “buy” rating and lifted their target price for the company from $8.00 to $9.50 in a research report on Monday, March 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Höegh LNG Partners currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Shares of NYSE HMLP traded down $0.24 during midday trading on Thursday, hitting $6.06. 120,449 shares of the stock traded hands, compared to its average volume of 191,084. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.94 and a current ratio of 0.94. Höegh LNG Partners has a one year low of $3.77 and a one year high of $18.17. The company has a market cap of $202.24 million, a PE ratio of 4.52 and a beta of 1.59. The business has a 50 day moving average price of $6.11 and a two-hundred day moving average price of $5.02.

Höegh LNG Partners (NYSE:HMLPGet Rating) last posted its earnings results on Wednesday, February 23rd. The shipping company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.13). Höegh LNG Partners had a return on equity of 14.22% and a net margin of 42.47%. The company had revenue of $36.19 million for the quarter, compared to analysts’ expectations of $35.48 million. During the same quarter in the prior year, the company earned $0.46 EPS. As a group, equities research analysts forecast that Höegh LNG Partners will post 1.65 EPS for the current fiscal year.

Several hedge funds have recently bought and sold shares of HMLP. Creative Planning acquired a new stake in shares of Höegh LNG Partners during the third quarter worth $79,000. Prescott Group Capital Management L.L.C. lifted its stake in Höegh LNG Partners by 178.4% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 265,559 shares of the shipping company’s stock valued at $1,304,000 after acquiring an additional 170,180 shares during the period. Jump Financial LLC bought a new stake in Höegh LNG Partners in the third quarter worth $116,000. HighTower Advisors LLC grew its stake in shares of Höegh LNG Partners by 143.6% during the third quarter. HighTower Advisors LLC now owns 33,576 shares of the shipping company’s stock worth $165,000 after acquiring an additional 19,792 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Höegh LNG Partners by 117.9% during the 3rd quarter. GSA Capital Partners LLP now owns 117,527 shares of the shipping company’s stock worth $577,000 after buying an additional 63,588 shares during the period. Institutional investors and hedge funds own 17.69% of the company’s stock.

Höegh LNG Partners Company Profile (Get Rating)

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2021, it had a fleet of five FSRUs.

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