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The 5th-Ranked LNG Carrier Stock on a Year-to-Date Basis

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Apr. 5 2018, Updated 10:31 a.m. ET

YTD performance

Among LNG carrier stocks, Hoegh LNG Partners (HMLP) is the fifth-ranked stock on a year-to-date basis. It had a year-to-date (or YTD) return of ~-15.0% on March 26, 2018. 

HMLP ranks behind GasLog Partners (GLOP), Golar LNG (GLNG), Dynagas LNG Partners (DLNG), and Teekay LNG Partners (TGP), which had YTD returns of -5.8%, -7.1%, -7.3%, and -9.4%, respectively.

HMLP has underperformed the shipping ETF as well as the broad equity market indexes. Since December 31, 2017, the Guggenheim Shipping ETF (SEA) has given a return of ~-8.5%. On March 26, 2018, the Dow Jones Industrial Average (DIA) fell ~2.3%, and the SPDR S&P 500 ETF (SPY) fell 0.66% on the same date.

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About HMLP

Hoegh LNG Partners is an MLP that provides floating LNG services under long-term contracts. Hoegh LNG Partners owns and operates floating storage and regasification units. These units serve as floating LNG import terminals.

Dividend yields

MLPs are popular among income investors who seek tax advantages and healthy dividend yields. On March 26, 2018, Hoegh LNG Partners (HMLP) had a dividend yield of ~10.8%. Following are the dividend yields for other LNG carrier companies:

  • Golar LNG Partners (GMLP): ~13.3%
  • Dynagas LNG Partners (DLNG): ~16.8%
  • Teekay LNG Partners (TGP): ~3.1%

Results in 4Q17

Höegh LNG Partners reported total time charter revenues of $37.6 million, compared with $23.3 million in 4Q16. It generated operating income of $29.7 million and net income of $25.4 million.

In October 2017, Höegh LNG Partners raised proceeds of $11.4 million from the issuance of Series A cumulative preferred units. In December 2017, HMLP acquired the remaining 49.0% of the ownership interest in Höegh LNG Colombia. 

In January 2018, the company commenced an at-the-market common and preferred unit offering program. In February, the company paid a distribution of $0.43 per unit (equivalent to $1.72 on an annual basis).

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