Hoegh LNG Partners LP (NYSE:HMLP) Stake Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Hoegh LNG Partners LP (NYSE:HMLP) by 45.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,388 shares of the shipping company’s stock after selling 15,292 shares during the period. Russell Investments Group Ltd. owned 0.06% of Hoegh LNG Partners worth $284,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Trustcore Financial Services LLC grew its holdings in shares of Hoegh LNG Partners by 14.8% during the 2nd quarter. Trustcore Financial Services LLC now owns 7,000 shares of the shipping company’s stock valued at $121,000 after acquiring an additional 900 shares in the last quarter. Marshall Wace LLP acquired a new position in Hoegh LNG Partners during the 2nd quarter worth $299,000. Arrow Investment Advisors LLC acquired a new position in Hoegh LNG Partners during the 2nd quarter worth $360,000. JPMorgan Chase & Co. acquired a new position in Hoegh LNG Partners during the 2nd quarter worth $422,000. Finally, Commonwealth Equity Services LLC lifted its position in Hoegh LNG Partners by 81.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 28,281 shares of the shipping company’s stock worth $489,000 after acquiring an additional 12,726 shares during the last quarter. Institutional investors and hedge funds own 21.65% of the company’s stock.

NYSE HMLP opened at $15.46 on Monday. The stock has a market cap of $513.30 million, a P/E ratio of 8.69, a PEG ratio of 9.69 and a beta of 1.06. The company’s 50-day simple moving average is $15.57 and its 200 day simple moving average is $16.53. Hoegh LNG Partners LP has a twelve month low of $14.01 and a twelve month high of $19.98. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.27.

Hoegh LNG Partners (NYSE:HMLP) last posted its earnings results on Thursday, November 21st. The shipping company reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.22. The business had revenue of $36.98 million for the quarter, compared to analysts’ expectations of $36.93 million. Hoegh LNG Partners had a net margin of 34.64% and a return on equity of 17.30%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. Research analysts anticipate that Hoegh LNG Partners LP will post 1.33 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.44 per share. The ex-dividend date was Wednesday, October 30th. This represents a $1.76 annualized dividend and a yield of 11.38%. Hoegh LNG Partners’s dividend payout ratio is 96.70%.

A number of research firms have weighed in on HMLP. ValuEngine lowered shares of Hoegh LNG Partners from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Zacks Investment Research raised shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Citigroup lowered shares of Hoegh LNG Partners from a “buy” rating to a “sell” rating and cut their price objective for the company from $16.00 to $14.00 in a research report on Tuesday, October 29th. B. Riley set a $21.00 price objective on shares of Hoegh LNG Partners and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, DNB Markets raised shares of Hoegh LNG Partners from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Hoegh LNG Partners has an average rating of “Hold” and an average target price of $18.00.

Hoegh LNG Partners Profile

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, 2018, it had a fleet of five FSRUs.

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Institutional Ownership by Quarter for Hoegh LNG Partners (NYSE:HMLP)

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