Hoegh Lng Partners LP (NYSE:HMLP):
Hoegh LNG Partners LP Agrees to Acquire Remaining 49% Interest in the FSRU HÃ¶egh Grace.
The company is down since yesterday’s close of 17.45.
Hoegh LNG Partners LP, launched on April 28, 2014, owns, operates and acquires floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets under long-term charters. The Business’s segments include Majority held FSRUs, Joint venture FSRUs and other. The Majority held FSRUs segment includes the direct financing lease related to the PT Perusahaan Gas Negara (Persero) Tbk (PGN) FSRU Lampung and the operating lease related to the Hoegh Gallant. The Joint venture FSRUs segment includes approximately two FSRUs, including the GDF Suez LNG Supply S.A. (GDF Suez) Neptune and the GDF Suez Cape Ann, which operate under long term time charters. The Company intends to acquire newbuilding FSRUs on long-term charters, rather than FSRUs based on retrofitted, first-generation LNG carriers..
The company’s P/E ratio is 7.05 and market capitalization is 571.18M. In the latest earnings report the EPS was $2.46 with 32.92M shares now outstanding.
Investors are a little more bearish on Hoegh Lng Partners LP if you evaluate the motion in short interest. The stock saw a rise in short interest of 106.96% as of October 31, 2017 from the last reporting period. Short shares grew from 42,127 to 87,184 over that period. Days to cover decreased 0.0 to 1.0 and the percentage of shorted shares was 0.00% on October 31.
A few analysts have provided guidance on the stock of late. Citigroup raised the price target on August 25 changing the forecast from $21.00 to $22.00 with a “Buy” recommendation.