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33% of Analysts Are Bullish on Teekay LNG Partners

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Analysts’ recommendations

Nine analysts have given recommendations on Teekay LNG Partners (TGP). Of these analysts, 33% are bullish on the stock—two have given it “strong buy” recommendations, while one has given it a “buy” recommendation.

Meanwhile, 67% of analysts (or six) have given it “hold” ratings. No analysts have given “strong sell” or “sell” ratings to Teekay LNG Partners. No analysts are bearish on GasLog Partners (GLOP), Hoegh LNG Partners (HMLP), Dynagas LNG Partners (DLNG), or Golar LNG (GLNG).

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Target price

The 12-month consensus target price for Teekay LNG Partners is $20.5. Based on its price of $17.10 on June 8, this target implies a potential return of 19.9%.

Revisions

In May, only one analyst revised the target price for Teekay LNG Partners. JPMorgan Chase raised its target price to $23 from $22 and maintained an “overweight” rating on the stock.

First-quarter highlights

Teekay LNG Partners reported its first-quarter results in May. The company reported a net income of -$6.9 million in the first quarter. In this period, the company generated a distributable cash flow of $35.3 million, or $0.44 per common unit.

On March 31, Teekay LNG Partners had a total liquidity of $463.5 million. Since the beginning of 2018, the partnership has taken delivery of four LNG (liquefied natural gas) carrier newbuilds, all on long-term charters, and one midsize LPG (liquefied petroleum gas) carrier newbuild. TGP rechartered its carriers Arctic Spirit and Polar Spirit for four years and one year, respectively. It also extended the charter on the Torben Spirit LNG carrier until December this year.

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