Höegh LNG Partners LP (NYSE:HMLP) Sees Large Increase in Short Interest

Höegh LNG Partners LP (NYSE:HMLPGet Rating) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 81,400 shares, a growth of 24.5% from the May 15th total of 65,400 shares. Based on an average daily trading volume, of 373,000 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.5% of the company’s shares are sold short.

Shares of Höegh LNG Partners stock opened at $8.97 on Friday. The firm’s 50 day moving average price is $7.41 and its 200-day moving average price is $5.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.85. Höegh LNG Partners has a 52-week low of $3.77 and a 52-week high of $18.17. The company has a market cap of $299.36 million, a P/E ratio of 7.34 and a beta of 1.56.

Höegh LNG Partners (NYSE:HMLPGet Rating) last released its earnings results on Wednesday, May 25th. The shipping company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. Höegh LNG Partners had a net margin of 39.72% and a return on equity of 13.49%. During the same quarter in the prior year, the firm posted $0.38 EPS. As a group, equities research analysts forecast that Höegh LNG Partners will post 1.5 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 13th. Stockholders of record on Monday, May 2nd were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, April 29th. Höegh LNG Partners’s dividend payout ratio (DPR) is currently 3.28%.

A number of brokerages recently weighed in on HMLP. StockNews.com upgraded shares of Höegh LNG Partners from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Citigroup raised shares of Höegh LNG Partners from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $4.25 to $9.25 in a research report on Wednesday, May 25th. Finally, Stifel Nicolaus downgraded shares of Höegh LNG Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.25.

A number of large investors have recently bought and sold shares of HMLP. UBS Group AG raised its position in shares of Höegh LNG Partners by 65.0% in the third quarter. UBS Group AG now owns 8,813 shares of the shipping company’s stock valued at $44,000 after buying an additional 3,472 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Höegh LNG Partners in the fourth quarter valued at about $61,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Höegh LNG Partners in the third quarter valued at about $65,000. Autus Asset Management LLC purchased a new stake in shares of Höegh LNG Partners in the fourth quarter valued at about $91,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Höegh LNG Partners in the fourth quarter valued at about $101,000. Institutional investors own 17.69% of the company’s stock.

Höegh LNG Partners Company Profile (Get Rating)

Höegh LNG Partners LP focuses on owning, operating, and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers, and other LNG infrastructure assets under long-term charters. As of March 31, 2022, it had a fleet of five FSRUs. Höegh LNG GP LLC is the general partner of the company.

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