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Teekay Tankers: Analysts’ Recommendations in December

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Analysts’ recommendations

Ten analysts gave recommendations on Teekay LNG Partners (TGP). Of the analysts, 40% are bullish on the stock—two analysts gave a “strong buy” recommendation, while two analysts gave a “buy” recommendation. Meanwhile, 60% of the analysts (or six analysts) gave a “hold” rating. None of the analysts gave a “strong sell” or “sell” rating to Teekay LNG Partners. None of the analysts are bearish on GasLog Partners (GLOP), Hoegh LNG Partners (HMLP), Dynagas LNG Partners (DLNG), and Golar LNG (GLNG).

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Target price

On November 13, 2017, JPMorgan Chase reduced the target price for GasLog Partners to $22 from $23. On November 10, 2017, UBS reduced the target price to $24 from $26. Stifel raised the target price to $18 from $16. Jefferies raised the target price to $18 from $16.

The 12-month consensus target price for GasLog Partners is $19.78. Based on its price of $17.8 on December 8, 2017, the target implies a potential return of 11.1%.

3Q17 highlights

Teekay LNG Partners reported its third-quarter results in November 2017. The company reported a net loss of $18.9 million. In 3Q17, the company generated a distributable cash flow of $40.2 million or $0.5 per common unit. As of September 30, 2017, Teekay LNG Partners has a total liquidity of $415 million. In October and November 2017, the company took delivery of two LNG carrier newbuilds and a 30% owned LNG (UNG) carrier newbuild. All of these vessels will immediately start its charter contract with Shell for a period ranging between six and 20 years. In November 2017, Teekay LNG Partners completed $327 million of new long-term financings for its growth projects.

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