Dynagas LNG Partners LP (NYSE:DLNG) Sees Large Decrease in Short Interest

Key Points

• Short interest fell sharply: Dynagas LNG Partners’ short interest declined 42.4% to 80,601 shares as of October 15, representing 0.2% of shares outstanding and a short-interest ratio of 1.1 days.
• Analyst sentiment remains cautious: The company has a consensus “Hold” rating, although Wall Street Zen recently upgraded the stock to “Buy.” Sei Investments also increased its stake by 307.3%.
• Recent results exceeded expectations: Dynagas reported quarterly earnings of $0.39 per share versus the $0.28 estimate and revenue of $41.19 million. The company pays a $0.05 quarterly dividend, equivalent to a 6.1% annualized yield.

Dynagas LNG Partners LP (NYSE:DLNG - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 80,601 shares, a drop of 42.4% from the September 30th total of 139,983 shares. Based on an average daily volume of 71,101 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company's shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Dynagas LNG Partners in a research report on Tuesday, October 6th. Wall Street Zen upgraded shares of Dynagas LNG Partners to a "buy" rating in a research report on Saturday, September 19th. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of "Hold".

Institutional Trading of Dynagas LNG Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coppell Advisory Solutions LLC acquired a new stake in Dynagas LNG Partners in the second quarter valued at $35,000. IMC Chicago LLC bought a new stake in shares of Dynagas LNG Partners in the 1st quarter valued at about $51,000. Finally, Sei Investments Co. lifted its stake in Dynagas LNG Partners by 307.3% in the 1st quarter. Sei Investments Co. now owns 56,071 shares of the shipping company's stock valued at $240,000 after purchasing an additional 42,306 shares during the last quarter.

Dynagas LNG Partners Trading Down 0.9%

NYSE:DLNG traded down $0.03 on Friday, reaching $3.26. The company's stock had a trading volume of 50,652 shares, compared to its average volume of 64,661. Dynagas LNG Partners has a 1-year low of $3.25 and a 1-year high of $4.45. The business's 50-day moving average price is $3.63 and its two-hundred day moving average price is $3.80. The firm has a market cap of $118.73 million, a PE ratio of 1.94 and a beta of 0.55. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.86 and a current ratio of 0.88.

Dynagas LNG Partners (NYSE:DLNG - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The shipping company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.11. Dynagas LNG Partners had a return on equity of 13.05% and a net margin of 42.33%. The business had revenue of $41.19 million for the quarter, compared to analysts' expectations of $36.31 million.

Dynagas LNG Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 24th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.20 annualized dividend and a dividend yield of 6.1%. Dynagas LNG Partners's payout ratio is 11.90%.

About Dynagas LNG Partners

Dynagas LNG Partners LP NYSE: DLNG is a maritime transportation company focused on the ownership and operation of liquefied natural gas (LNG) carriers. The partnership provides seaborne LNG transportation services to energy companies, utilities and other commercial customers under primarily long-term charter arrangements.

The company's fleet has included conventional and ice-class LNG carriers designed to transport LNG safely and efficiently between production regions, receiving terminals and other destinations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.