Golar LNG Partners (NASDAQ:GMLP) Reaching An Inflection Point; B.Riley FBR Initiates Shares At Hold with $23.0000 target

May 18, 2018 - By Vivian Currie

Golar LNG Partners LP (NASDAQ:GMLP) Logo

Why Has B.Riley FBR Given Golar LNG Partners (NASDAQ:GMLP) a $23.0000 Price Target

B.Riley FBR analyst has started coverage with a Hold rating on Golar LNG Partners (NASDAQ:GMLP) today and set a price target of $23.0000. The firm’s shares opened today at 20.5.

Golar LNG Partners LP (NASDAQ:GMLP) Ratings Coverage

Among 4 analysts covering Golar LNG Partners (NASDAQ:GMLP), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Golar LNG Partners has $26.0 highest and $21.0 lowest target. $23.67’s average target is 15.46% above currents $20.5 stock price. Golar LNG Partners had 4 analyst reports since December 18, 2017 according to SRatingsIntel. The rating was upgraded by Stifel Nicolaus to “Buy” on Monday, December 18. Seaport Global maintained the shares of GMLP in report on Tuesday, February 27 with “Hold” rating. Bank of America maintained it with “Buy” rating and $24 target in Monday, March 5 report. Jefferies initiated Golar LNG Partners LP (NASDAQ:GMLP) on Monday, December 18 with “Buy” rating.

The stock increased 0.05% or $0.01 during the last trading session, reaching $20.5. About 296,828 shares traded. Golar LNG Partners LP (NASDAQ:GMLP) has declined 19.88% since May 18, 2017 and is downtrending. It has underperformed by 31.43% the S&P500.

Analysts await Golar LNG Partners LP (NASDAQ:GMLP) to report earnings on May, 30. They expect $0.09 earnings per share, down 74.29 % or $0.26 from last year’s $0.35 per share. GMLP’s profit will be $6.46 million for 56.94 P/E if the $0.09 EPS becomes a reality. After $0.37 actual earnings per share reported by Golar LNG Partners LP for the previous quarter, Wall Street now forecasts -75.68 % negative EPS growth.

Golar LNG Partners LP owns and operates floating storage regasification units , liquefied natural gas (LNG) carriers, and floating liquefied natural gas vessel industries under long-term charters in Brazil, the United Arab Emirates, Indonesia, Jordan, and Kuwait. The company has market cap of $1.47 billion. The firm also engages in the leasing of its fleets. It has a 11.11 P/E ratio. As of April 24, 2017, it had a fleet of six FSRUs and four LNG carriers.

More recent Golar LNG Partners LP (NASDAQ:GMLP) news were published by: Nasdaq.com which released: “Golar LNG Partners LP Cash Distributions” on April 27, 2018. Also Benzinga.com published the news titled: “AMD, Alibaba, EOG, Golar: ‘Fast Money’ Picks For May 18” on May 18, 2018. Streetinsider.com‘s news article titled: “Form 6-K Golar LNG Partners LP For: Apr 27” with publication date: April 27, 2018 was also an interesting one.

Golar LNG Partners LP (NASDAQ:GMLP) Ratings Chart

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