Teekay LNG Partners Receives a Hold from RBC CapitalBy Carrie Williams
In a report released yesterday, Elvira Scotto from RBC Capital reiterated a Hold rating on Teekay LNG Partners (NYSE: TGP), with a price target of $14. The company’s shares closed yesterday at $17.35.
According to TipRanks.com, Scotto is a top 25 analyst with an average return of 24.6% and a 75.3% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Sanchez Production Partners, and Enbridge Energy Management.
Teekay LNG Partners has an analyst consensus of Hold, with a price target consensus of $14.
Based on Teekay LNG Partners’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $101 million and quarterly net profit of $80.06 million. In comparison, last year the company earned revenue of $104 million and had a net profit of $70.78 million.
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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.