Zacks Investment Research Downgrades Golar LNG Partners LP (GMLP) to Sell

Golar LNG Partners LP (NASDAQ:GMLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Golar LNG Partners LP is a limited partnership primarily focused on owning and operating floating storage and regasification units (or FSRUs) and LNG carriers under long-term charters. Golar LNG Partners LP is based in Hamilton, Bermuda. “

Other analysts have also issued research reports about the company. BidaskClub raised Golar LNG Partners from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 target price on shares of Golar LNG Partners in a report on Tuesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $22.00 target price (down previously from $24.00) on shares of Golar LNG Partners in a report on Tuesday, June 13th. Stifel Nicolaus set a $23.00 target price on Golar LNG Partners and gave the company a “hold” rating in a report on Thursday, August 17th. Finally, ValuEngine raised Golar LNG Partners from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Golar LNG Partners currently has an average rating of “Hold” and an average target price of $23.25.

Golar LNG Partners (NASDAQ:GMLP) last posted its quarterly earnings data on Wednesday, August 30th. The shipping company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. Golar LNG Partners had a return on equity of 31.69% and a net margin of 43.94%.

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Several hedge funds have recently modified their holdings of GMLP. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Golar LNG Partners by 12.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,655 shares of the shipping company’s stock worth $113,000 after buying an additional 620 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Golar LNG Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 10,223 shares of the shipping company’s stock worth $205,000 after buying an additional 572 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Golar LNG Partners during the first quarter worth about $222,000. PNC Financial Services Group Inc. boosted its stake in shares of Golar LNG Partners by 13.9% during the first quarter. PNC Financial Services Group Inc. now owns 12,100 shares of the shipping company’s stock worth $271,000 after buying an additional 1,474 shares during the period. Finally, KCG Holdings Inc. acquired a new stake in shares of Golar LNG Partners during the first quarter worth about $300,000. 45.47% of the stock is currently owned by institutional investors.

About Golar LNG Partners

Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.

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