Among LNG carrier stocks, Hoegh LNG Partners (HMLP) is the fifth-best-performing stock in 2017. It had a year-to-date (or YTD) return of -5.3% on December 20, 2017.
HMLP has underperformed the shipping ETF as well as the broad equity market indexes. Since December 30, 2016, the Guggenheim Shipping ETF (SEA) has risen 0.87%.
On December 20, 2017, the Dow Jones Industrial Average (DIA) has risen 25.2%, and the SPDR S&P 500 ETF (SPY) has risen 19.5% during the same period.
Hoegh LNG Partners is an MLP, which provides floating LNG services under long-term contracts. The company owns and operates floating storage and regasification units, which serve as floating LNG import terminals.
MLPs are popular among income investors who seek tax advantages and healthy dividend yields. On December 20, 2017, Hoegh LNG Partners (HMLP) had a dividend yield of ~9.6%. Following are the dividend yields for other LNG carrier companies:
- Golar LNG Partners (GMLP): ~10.1%
- Dynagas LNG Partners (DLNG): ~14.4%
- Teekay LNG Partners (TGP): ~2.8%
Hoegh LNG Partners (HMLP) reported total revenues of $35.9 million in 3Q17 compared to $23.3 million in 3Q16. In 3Q17, HMLP generated operating income of $15.3 million and net income of $5.4 million.
In October 2017, Hoegh LNG Partners raised proceeds of $11.4 million from the issuance of Series A cumulative preferred units. In November 2017, it paid a distribution of $0.43 per unit—equivalent to $1.72 on an annual basis.
In November, Hoegh LNG Partners announced that it would acquire the remaining 49.0% ownership interest in the entities that own and operate Hoegh Grace.
Of the analysts tracking Hoegh LNG Partners (HMLP), 100% recommended a “buy” or some equivalent on December 21, 2017.
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