Teekay LNG Partners L.P. (NYSE:TGP)‘s stock had its “hold” rating restated by stock analysts at Royal Bank of Canada in a report released on Friday. They currently have a $14.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 20.68% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus started coverage on shares of Teekay LNG Partners L.P. in a report on Monday, November 21st. They issued a “hold” rating and a $14.50 price objective for the company. Zacks Investment Research upgraded shares of Teekay LNG Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.30.
Shares of Teekay LNG Partners L.P. (NYSE:TGP) opened at 17.65 on Friday. The stock’s 50 day moving average price is $18.31 and its 200 day moving average price is $15.79. Teekay LNG Partners L.P. has a 12-month low of $9.47 and a 12-month high of $19.90. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 10.21 and a beta of 1.15.
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Hedge funds have recently made changes to their positions in the company. Boston Partners purchased a new stake in shares of Teekay LNG Partners L.P. during the third quarter worth about $3,621,000. Spirit of America Management Corp NY increased its stake in shares of Teekay LNG Partners L.P. by 144.6% in the third quarter. Spirit of America Management Corp NY now owns 285,406 shares of the company’s stock worth $4,318,000 after buying an additional 168,700 shares in the last quarter. Morgan Stanley increased its stake in shares of Teekay LNG Partners L.P. by 29.9% in the third quarter. Morgan Stanley now owns 2,656,007 shares of the company’s stock worth $40,186,000 after buying an additional 611,989 shares in the last quarter. Thornburg Investment Management Inc. increased its stake in shares of Teekay LNG Partners L.P. by 56.7% in the fourth quarter. Thornburg Investment Management Inc. now owns 790,952 shares of the company’s stock worth $11,429,000 after buying an additional 286,350 shares in the last quarter. Finally, Berson & Corrado Investment Advisors LLC increased its stake in shares of Teekay LNG Partners L.P. by 21.5% in the third quarter. Berson & Corrado Investment Advisors LLC now owns 283,288 shares of the company’s stock worth $4,286,000 after buying an additional 50,222 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.
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