The stock of Teekay LNG Partners L.P. (NYSE:TGP) is a huge mover today! The stock increased 5.35% or $0.81 on October 3, hitting $15.94. About 515,605 shares traded hands or 13.00% up from the average. Teekay LNG Partners L.P. (NYSE:TGP) has risen 47.90% since February 29, 2016 and is uptrending. It has outperformed by 35.68% the S&P500.
The move comes after 6 months positive chart setup for the $1.30B company. It was reported on Oct, 4 by Barchart.com. We have $19.13 PT which if reached, will make NYSE:TGP worth $260.00 million more.
Analysts await Teekay LNG Partners L.P. (NYSE:TGP) to report earnings on November, 3. They expect $0.36 earnings per share, up 5.88% or $0.02 from last year’s $0.34 per share. TGP’s profit will be $29.36 million for 11.07 P/E if the $0.36 EPS becomes a reality. After $0.66 actual earnings per share reported by Teekay LNG Partners L.P. for the previous quarter, Wall Street now forecasts -45.45% negative EPS growth.
Teekay LNG Partners L.P. (NYSE:TGP) Ratings Coverage
Out of 6 analysts covering Teekay LNG Partners L.P. (NYSE:TGP), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Teekay LNG Partners L.P. has been the topic of 11 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Teekay LNG Partners L.P. (NYSE:TGP) earned “” rating by UBS on Friday, August 7. The rating was maintained by UBS with “Buy” on Tuesday, June 14. The company was downgraded on Thursday, December 17 by Seaport Global Securities. The company was downgraded on Thursday, August 6 by Zacks. The stock of Teekay LNG Partners L.P. (NYSE:TGP) has “Sector Perform” rating given on Thursday, December 17 by RBC Capital Markets. The rating was initiated by Jefferies on Tuesday, September 13 with “Hold”. The rating was upgraded by Wells Fargo on Friday, September 9 to “Outperform”.
According to Zacks Investment Research, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers.”
More notable recent Teekay LNG Partners L.P. (NYSE:TGP) news were published by: Finance.Yahoo.com which released: “Teekay LNG Partners Announces Pricing of Series A Preferred Offering” on September 28, 2016, also Seekingalpha.com with their article: “Teekay LNG Partners Offers Investors An Opportunity For Significant Dividend …” published on September 30, 2016, Fool.com published: “Why Teekay Offshore Partners L.P., Teekay LNG Partners L.P., and Teekay …” on April 06, 2016. More interesting news about Teekay LNG Partners L.P. (NYSE:TGP) were released by: Fool.com and their article: “Teekay LNG Partners LP: 3 Things You Need to Know After Earnings” published on August 07, 2015 as well as Marketwatch.com‘s news article titled: “Teekay LNG Partners Reports First Quarter 2016 Results” with publication date: May 19, 2016.
TGP Company Profile
Teekay LNG Partners L.P., incorporated on November 3, 2004, is an international well-known 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. The Company’s divisions include the liquefied gas segment and the conventional tanker segment. The liquefied gas segment consists of LNG carriers, LPG carriers and multigas carriers, which can carry both LNG and LPG. The conventional tanker segment consists of approximately seven Suezmax-class crude oil tankers and a Handymax product tanker. The Company’s vessels primarily operate under long-term, fixed-rate charters with energy and utility companies, and Teekay Corporation.
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