Teekay LNG Partners L.P. Stock Rating Lowered by Zacks (TGP)

Teekay LNG Partners L.P. (NYSE:TGP) was downgraded by Zacks from a “hold” rating to a “sell” rating in a research report issued on Wednesday, ARNreports.

According to Zacks, “Teekay LNG Partners L.P. is a Marshall Islands partnership recently formed by Teekay Shipping Corporation as part of its strategy to expand its operations in the liquefied natural gas shipping sector. Teekay LNG Partners provides liquefied natural gas and crude oil marine transportation services under long-term, fixed-rate contracts with major energy and utility companies through its fleet of seven LNG carriers and five Suezmax class crude oil tankers. “

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Teekay LNG Partners L.P. (NYSE:TGP) traded up 9.09% during midday trading on Wednesday, hitting $26.76. 476,746 shares of the company’s stock traded hands. The company has a market capitalization of $2.10 billion and a PE ratio of 10.42. The company has a 50 day moving average of $30.25 and a 200-day moving average of $35.18. Teekay LNG Partners L.P. has a 52 week low of $24.00 and a 52 week high of $44.21.

Teekay LNG Partners L.P. (NYSE:TGP) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.16. Equities researchanalysts predict that Teekay LNG Partners L.P. will post $2.16 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Tuesday, July 14th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 10.46%. The ex-dividend date is Friday, July 10th.

Separately, JPMorgan Chase & Co. upgraded shares of Teekay LNG Partners L.P. to a “top pick” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Teekay LNG Partners L.P. presently has an average rating of “Hold” and an average target price of $39.51.

Teekay LNG Partners L.P is an international provider of marine transportation services for liquefied natural gas (NYSE:TGP), liquefied petroleum gas (LPG) and crude oil. The Company operates in two segments: liquefied gas segment and conventional tanker segment. As at December 31, 2012, its liquefied gas segment consisted of 27 LNG carriers (including nine LNG carriers included in joint ventures that are accounted for under the equity method), three LPG carriers and two Multigas carriers. As of December 31, 2012, its conventional tanker segment consisted of ten Suezmax-class crude oil tankers and one Handymax product tanker operating on long-term, fixed-rate time-charter contracts to international energy and shipping companies. The Company’s subsidiaries include Teekay LNG Operating L.L.C., Teekay Spain S.L., Teekay LNG Holdings L.P. and Teekay Nakilat Holdings Corporation.

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