Edgestream Partners L.P. Takes Position in Golar LNG Limited (NASDAQ:GLNG)

Edgestream Partners L.P. bought a new position in Golar LNG Limited (NASDAQ:GLNG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 81,900 shares of the shipping company's stock, valued at approximately $3,111,000. Edgestream Partners L.P. owned approximately 0.08% of Golar LNG at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GLNG. Naria Inc. purchased a new position in shares of Golar LNG during the fourth quarter worth about $435,226,000. Millennium Management LLC lifted its position in Golar LNG by 49.2% in the 4th quarter. Millennium Management LLC now owns 4,638,045 shares of the shipping company's stock worth $196,282,000 after buying an additional 1,529,884 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in Golar LNG in the 4th quarter worth approximately $55,413,000. Jefferies Financial Group Inc. bought a new stake in Golar LNG in the 4th quarter worth approximately $24,394,000. Finally, Discovery Capital Management LLC CT bought a new stake in Golar LNG in the fourth quarter valued at approximately $17,719,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Golar LNG Stock Performance

Shares of NASDAQ GLNG traded up $0.70 during trading on Thursday, hitting $41.06. The company had a trading volume of 660,610 shares, compared to its average volume of 1,456,375. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 0.85. Golar LNG Limited has a 12 month low of $29.29 and a 12 month high of $44.36. The stock has a 50 day simple moving average of $40.77 and a 200 day simple moving average of $39.47. The firm has a market capitalization of $4.29 billion, a P/E ratio of 1,369.12 and a beta of 0.56.

Golar LNG (NASDAQ:GLNG - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The shipping company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.09. The business had revenue of $63.00 million during the quarter, compared to analysts' expectations of $64.90 million. Golar LNG had a return on equity of 6.82% and a net margin of 1.04%. As a group, analysts anticipate that Golar LNG Limited will post 1.39 earnings per share for the current year.

Golar LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Tuesday, June 3rd. Golar LNG's dividend payout ratio (DPR) is 3,333.33%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GLNG shares. Fearnley Fonds upgraded Golar LNG from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 19th. BTIG Research reiterated a "buy" rating on shares of Golar LNG in a research report on Wednesday, May 28th. Wall Street Zen cut Golar LNG from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Dnb Nor Markets raised Golar LNG from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 22nd. Finally, DNB Markets raised Golar LNG from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Golar LNG presently has an average rating of "Buy" and a consensus target price of $50.88.

Golar LNG Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.