Wells Fargo & Co. Upgrades Teekay LNG Partners L.P. (TGP) to Outperform

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Teekay LNG Partners L.P. (NYSE:TGP) was upgraded by investment analysts at Wells Fargo & Co. to an “outperform” rating in a research note issued to investors on Friday.
Separately, Zacks Investment Research upgraded shares of Teekay LNG Partners L.P. from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, June 16th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.75.
Shares of Teekay LNG Partners L.P. (NYSE:TGP) opened at 14.07 on Friday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 14.66 and a beta of 1.29. The firm’s 50-day moving average is $12.18 and its 200-day moving average is $12.37. Teekay LNG Partners L.P. has a 12-month low of $7.92 and a 12-month high of $27.98.

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Teekay LNG Partners L.P. (NYSE:TGP) last announced its earnings results on Thursday, August 4th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.28. Analysts predict that Teekay LNG Partners L.P. will post $2.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Friday, July 29th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date of this dividend was Wednesday, July 27th.
Other hedge funds have recently modified their holdings of the company. Trust Asset Management LLC increased its stake in shares of Teekay LNG Partners L.P. by 2.5% in the second quarter. Trust Asset Management LLC now owns 25,827 shares of the company’s stock worth $291,000 after buying an additional 627 shares during the period. Babson Capital Management LLC increased its stake in shares of Teekay LNG Partners L.P. by 97.1% in the first quarter. Babson Capital Management LLC now owns 34,105 shares of the company’s stock worth $432,000 after buying an additional 16,800 shares during the period. Albert D Mason Inc. increased its stake in shares of Teekay LNG Partners L.P. by 16.9% in the second quarter. Albert D Mason Inc. now owns 36,046 shares of the company’s stock worth $406,000 after buying an additional 5,220 shares during the period. State Street Corp increased its stake in shares of Teekay LNG Partners L.P. by 4.0% in the first quarter. State Street Corp now owns 47,632 shares of the company’s stock worth $604,000 after buying an additional 1,836 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in shares of Teekay LNG Partners L.P. by 0.9% in the first quarter. Glenmede Trust Co. NA now owns 76,981 shares of the company’s stock worth $975,000 after buying an additional 703 shares during the period.
Teekay LNG Partners L.P. Company Profile
Teekay LNG Partners L.P. (Teekay LNG Partners) is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. Teekay LNG Partners operates through two segments: its liquefied gas segment and its conventional tanker segment.

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