Hoegh LNG Partners LP (NYSE:HMLP) Sees Significant Decline in Short Interest

Hoegh LNG Partners LP (NYSE:HMLP) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 29,000 shares, a drop of 24.9% from the May 30th total of 38,600 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily volume of 78,000 shares, the short-interest ratio is presently 0.4 days.

HMLP has been the subject of several research reports. Zacks Investment Research raised York Water from a “sell” rating to a “hold” rating in a report on Saturday, June 1st. TheStreet raised United States Lime & Minerals from a “c+” rating to a “b” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.80.

NYSE HMLP traded up $0.02 during midday trading on Friday, hitting $17.75. The company had a trading volume of 95,547 shares, compared to its average volume of 86,248. The stock has a market cap of $586.58 million, a P/E ratio of 9.75, a PEG ratio of 9.59 and a beta of 0.98. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 1.10. The business has a 50-day moving average of $17.57. Hoegh LNG Partners has a twelve month low of $14.50 and a twelve month high of $19.98.

Hoegh LNG Partners (NYSE:HMLP) last announced its quarterly earnings data on Wednesday, May 29th. The shipping company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.05. The firm had revenue of $36.14 million during the quarter, compared to analysts’ expectations of $37.14 million. Hoegh LNG Partners had a return on equity of 19.69% and a net margin of 47.40%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 EPS. As a group, equities analysts predict that Hoegh LNG Partners will post 1.54 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC increased its stake in shares of Hoegh LNG Partners by 4,784.8% in the 4th quarter. Barclays PLC now owns 3,859 shares of the shipping company’s stock valued at $59,000 after purchasing an additional 3,780 shares during the last quarter. Trustcore Financial Services LLC increased its stake in shares of Hoegh LNG Partners by 52.5% in the 1st quarter. Trustcore Financial Services LLC now owns 6,100 shares of the shipping company’s stock valued at $119,000 after purchasing an additional 2,100 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new position in shares of Hoegh LNG Partners in the 1st quarter valued at $163,000. Virtu Financial LLC bought a new position in shares of Hoegh LNG Partners in the 1st quarter valued at $219,000. Finally, Concorde Asset Management LLC bought a new position in shares of Hoegh LNG Partners in the 1st quarter valued at $279,000. Institutional investors own 23.74% of the company’s stock.

Hoegh LNG Partners Company Profile

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. The company also offers ship management services. As of March 31, 2018, it had a fleet of five FSRUs.

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