Revenue Update on Hoegh LNG Partners LP(NYSE:HMLP)

Hoegh LNG Partners LP(NYSE:HMLP) announced the earnings results for Fiscal Year 2016 and Q3. The results came in during Pre-market on Nov 17, 2016. Company reported revenue of $23.34M. Analysts estimated a revenue of $23.11M. The revenues were $235.00K or 1.02% above the estimates. Earnings per share were $0.51. The reported EPS was above estimates by $0.16 or 45.71%. Analysts had estimated an EPS of $0.35.

In a different note, On Aug 30, 2016, Barclays said it Maintains its rating on Hoegh LNG Partners LP. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Aug 26, 2016, Citigroup said it Maintains its rating on Hoegh LNG Partners LP. In the research note, the firm Raises the price-target to $18.50 per share. The shares have been rated ‘Buy’ by the firm.

Hoegh LNG Partners LP (HMLP) shares turned negative on Mondays trading session with the shares closing down -0.2 points or -1.08% at a volume of 15,214. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.35. The peak price level was also seen at $19.35 while the days lowest was $18.35. Finally the shares closed at $18.35. The 52-week high of the shares is $19.56 while the 52-week low is $11.5. According to the latest information available, the market cap of the company is $483 M.

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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