Höegh LNG Partners LP (NYSE: HMLP) sees sharp increase in short-term interest

Höegh LNG Partners LP (NYSE: HMLP – Get a rating) saw strong growth in short-term interest in May. As of May 31, there was short interest totaling 81,400 shares, a growth of 24.5% from the total of 65,400 shares as of May 15. Based on an average daily trading volume of 373,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.5% of the company’s shares are sold short.

Shares of Höegh LNG Partners opened at $8.97 on Friday. The company’s 50-day moving average price is $7.41 and its 200-day moving average price is $5.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt ratio of 0.85. Höegh LNG Partners has a 52-week low of $3.77 and a 52-week high of $18.17. The company has a market capitalization of $299.36 million, a P/E ratio of 7.34 and a beta of 1.56.

Höegh LNG Partners (NYSE: HMLP – Get a rating) last reported results on Wednesday, May 25. The shipping company reported earnings per share of $0.49 for the quarter, beating the consensus estimate of $0.37 by $0.12. Höegh LNG Partners achieved a net margin of 39.72% and a return on equity of 13.49%. In the same quarter a year earlier, the company posted EPS of $0.38. As a group, equity research analysts expect Höegh LNG Partners to post EPS of 1.5 for the current financial year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Monday, May 2 received a dividend of $0.01. This represents an annualized dividend of $0.04 and a dividend yield of 0.45%. The ex-dividend date was Friday, April 29. The dividend payout ratio (DPR) of Höegh LNG Partners is currently 3.28%.

A number of brokerages have weighed in on HMLP recently. StockNews.com upgraded the shares of Höegh LNG Partners from a “hold” rating to a “buy” rating in a Monday, June 6 report. Citigroup downgraded shares of Höegh LNG Partners from a “sell” rating to a “neutral” rating and raised its price target for the stock from $4.25 to $9.25 in a research report from the Wednesday, May 25. Finally, Stifel Nicolaus downgraded the shares of Höegh LNG Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25. One equity research analyst has assigned the stock a sell rating, three have issued a hold rating and one has assigned the company a buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.25.

A number of large investors have recently bought and sold shares of HMLP. UBS Group AG increased its position in shares of Höegh LNG Partners by 65.0% in the third quarter. UBS Group AG now owns 8,813 shares of the shipping company valued at $44,000 after buying an additional 3,472 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Höegh LNG Partners in the fourth quarter valued at approximately $61,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Höegh LNG Partners in the third quarter, valued at approximately $65,000. Autus Asset Management LLC purchased a new stake in shares of Höegh LNG Partners in the fourth quarter, valued at approximately $91,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Höegh LNG Partners in the fourth quarter valued at around $101,000. Institutional investors hold 17.69% of the company’s shares.

Company Profile Höegh LNG Partners (Get a rating)

Höegh LNG Partners LP is focused on owning, operating and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets in the long-term charters. As of March 31, 2022, it had a fleet of five FSRUs. Höegh LNG GP LLC is the general partner of the company.

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