Teekay LNG Partners Receives a Buy from J.P. Morgan

By Carrie Williams

J.P. Morgan analyst Noah Parquette reiterated a Buy rating on Teekay LNG Partners (NYSE: TGP) today and set a price target of $20. The company’s shares opened today at $13.55.

Parquette observed:

“Given our view on the sector, we prefer high charter coverage, and Teekay LNG (TGP) outperforms its peers here. This, combined with its position in promoting new technologies and its diversity of charterer relationships, results in TGP being an attractive stock in the LNG space.”

According to TipRanks.com, Parquette is ranked 0 out of 5 stars with an average return of -20.0% and a 24.2% success rate. Parquette covers the Services sector, focusing on stocks such as Navios Maritime Acquisition, Navios Maritime Partners Lp, and Navios Maritime Midstream.

Teekay LNG Partners has an analyst consensus of Moderate Buy, with a price target consensus of $18.

Teekay LNG Partners’ market cap is currently $1.08B and has a P/E ratio of 14.15. The company has a book value ratio of 0.7482.

Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. It operates through the following segments: Liquefied Gas and Conventional Tanker. The Liquefied Gas segment consists of liquefied natural gas and liquefied petroleum gas carriers subject to long-term, fixed-rate charters to international energy companies and Teekay Corp. The Conventional Tanker segment includes suezmax-class crude oil tankers and handymax product tanker operating on long-term, fixed-rate time-charter contracts to international energy and shipping companies. It owns and operates medium-sized crude oil tankers to expand its operations in the liquefied natural gas shipping sector. The company was founded on November 2, 2004 and is headquartered in Hamilton, Bermuda.