GasLog Partners LP (GLOP) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of GasLog Partners LP (NYSE:GLOP) from a hold rating to a strong sell rating in a research report report published on Tuesday morning.

According to Zacks, “GasLog Partners LP owns, operates and acquires LNG carriers with multi-year charters. The Company charges customers for the transportation of their LNG using its LNG carriers. GasLog Partners LP is based in Monaco. “

A number of other research firms have also issued reports on GLOP. TheStreet upgraded shares of GasLog Partners from a c- rating to a b rating in a report on Monday, May 8th. Barclays PLC initiated coverage on shares of GasLog Partners in a report on Friday, April 21st. They issued an equal weight rating and a $26.00 target price on the stock. Jefferies Group LLC restated a buy rating and issued a $28.00 target price on shares of GasLog Partners in a report on Tuesday, July 4th. Finally, Morgan Stanley upgraded shares of GasLog Partners from an equal weight rating to an overweight rating and upped their target price for the company from $23.50 to $26.00 in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $25.40.

The firm has a 50-day moving average price of $23.54 and a 200 day moving average price of $23.34. The firm has a market cap of $937.27 million, a PE ratio of 11.90 and a beta of 1.66. GasLog Partners has a 12-month low of $18.82 and a 12-month high of $25.45.

GasLog Partners (NYSE:GLOP) last released its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.56 by $0.11. The business had revenue of $65.27 million during the quarter, compared to analysts’ expectations of $61.86 million. GasLog Partners had a return on equity of 12.06% and a net margin of 35.43%. GasLog Partners’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 earnings per share. Analysts predict that GasLog Partners will post $2.27 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 8.59%. This is a positive change from GasLog Partners’s previous quarterly dividend of $0.43. The ex-dividend date is Thursday, August 3rd. GasLog Partners’s dividend payout ratio is 93.02%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. increased its position in GasLog Partners by 43.5% in the first quarter. OppenheimerFunds Inc. now owns 2,500,867 shares of the shipping company’s stock worth $61,271,000 after buying an additional 758,500 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its position in GasLog Partners by 15.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,342,233 shares of the shipping company’s stock worth $57,376,000 after buying an additional 305,672 shares in the last quarter. FMR LLC increased its position in GasLog Partners by 82.8% in the first quarter. FMR LLC now owns 2,047,700 shares of the shipping company’s stock worth $50,169,000 after buying an additional 927,600 shares in the last quarter. Global X Management Co. LLC increased its position in GasLog Partners by 51.2% in the second quarter. Global X Management Co. LLC now owns 549,001 shares of the shipping company’s stock worth $12,435,000 after buying an additional 185,941 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in GasLog Partners by 43,473.4% in the first quarter. JPMorgan Chase & Co. now owns 458,828 shares of the shipping company’s stock worth $11,242,000 after buying an additional 457,775 shares in the last quarter. Institutional investors own 58.86% of the company’s stock.