Barclays Assumes Hoegh LNG Partners LP to Equal-weight

Brokerage firm Barclays Assumes its rating on Hoegh LNG Partners LP(NYSE:HMLP). The shares have been rated Equal-weight. The rating by Barclays was issued on Apr 12, 2016.

In a different note, On Mar 1, 2016, Morgan Stanley said it Maintains its rating on Hoegh LNG Partners LP. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Equal-weight’ by the firm.

Hoegh LNG Partners LP (HMLP) made into the market gainers list on Fridays trading session with the shares advancing 3.73% or 0.63 points. Due to strong positive momentum, the stock ended at $17.5, which is also near the day’s high of $17.6. The stock began the session at $16.95 and the volume stood at 17,486 shares. The 52-week high of the shares is $23.46 and the 52 week low is $11.5. The company has a current market capitalization of $460 M and it has 2,63,12,120 shares in outstanding.

Hoegh LNG Partners LP(HMLP) last announced its earnings results on Feb 29, 2016 for Fiscal Year 2015 and Q4.Earnings per share were $0.63.

Hoegh LNG Partners LP is a Bermuda-based limited partnership formed by Hoegh LNG Holdings Ltd. (HLNG) a floating LNG (liquefied natural gas) service provider. The Company owns and operates floating storage and regasification units (FSRUs) under long-term charters. The Company operates through two segments: Majority Held FSRUs and Joint Venture FSRUs. In addition interest income from advances to joint ventures and the demand note from Hoegh LNG are included in Other. The Company generates revenues by chartering the vessels in its initial fleet under long-term time charters. Majority held FSRUs include the direct financing lease related to the PGN FSRU Lampung and construction contract revenue and expenses of the Mooring. Joint venture FSRUs include two 50% owned FSRUs the GDF Suez Neptune and the GDF Suez Cape Ann that operate under long term time charters with one charterer GDF Suez.

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