Analysis: Teekay LNG Partners (NYSE:TGP) Stock Target Has Just Been Increased Today
In analysts note published by JP Morgan on 18 December, the firm, Teekay LNG Partners (NYSE:TGP), had their target downgraded to $21.00. Analusts now have a solid “Overweight” rating on the stock.
Approximately 2.09M shares of stock traded hands or 274.36% up from the average. Teekay LNG Partners L.P. (NYSE:TGP) has declined 75.48% since May 15, 2015 and is downtrending. It has underperformed by 71.67% the S&P500.
Teekay LNG Partners L.P. is an international well-known provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The company has a market cap of $1.46 billion. Teekay LNG Partners operates through two divisions: its liquefied gas segment and its conventional tanker segment. It has 6.19 P/E ratio. The liquefied gas segment consists of LNG and LPG or multigas carriers, which generally operate under long-term, fixed-rate charters to international energy companies and Teekay Corporation.
According to Zacks Investment Research, “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.”