Short Interest in Höegh LNG Partners LP (NYSE:HMLP) Expands By 19.5%

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Höegh LNG Partners LP (NYSE:HMLP) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 223,500 shares, an increase of 19.5% from the August 31st total of 187,100 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 134,500 shares, the days-to-cover ratio is presently 1.7 days.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HMLP. Silvercrest Asset Management Group LLC purchased a new position in Höegh LNG Partners in the first quarter worth approximately $73,000. Engineers Gate Manager LP purchased a new position in Höegh LNG Partners in the first quarter worth approximately $112,000. California Public Employees Retirement System grew its position in Höegh LNG Partners by 36.9% in the second quarter. California Public Employees Retirement System now owns 38,989 shares of the shipping company’s stock worth $379,000 after acquiring an additional 10,500 shares during the period. Sigma Planning Corp grew its position in Höegh LNG Partners by 24.6% in the second quarter. Sigma Planning Corp now owns 41,862 shares of the shipping company’s stock worth $407,000 after acquiring an additional 8,265 shares during the period. Finally, Bank of America Corp DE grew its position in Höegh LNG Partners by 16.4% in the second quarter. Bank of America Corp DE now owns 59,408 shares of the shipping company’s stock worth $578,000 after acquiring an additional 8,391 shares during the period. 21.68% of the stock is owned by institutional investors.

A number of analysts have commented on HMLP shares. ValuEngine cut Höegh LNG Partners from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Zacks Investment Research raised Höegh LNG Partners from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, August 25th. Stifel Nicolaus cut Höegh LNG Partners from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.00 to $10.00 in a research report on Tuesday, August 18th. Finally, Barclays raised Höegh LNG Partners from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a research report on Thursday, July 16th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Höegh LNG Partners has an average rating of “Hold” and a consensus price target of $13.00.

Shares of HMLP stock traded up $0.20 on Friday, hitting $11.16. The company had a trading volume of 78,264 shares, compared to its average volume of 233,330. The firm has a market cap of $371.25 million, a P/E ratio of 6.93, a price-to-earnings-growth ratio of 1.24 and a beta of 1.95. The company has a 50-day moving average price of $10.74 and a 200-day moving average price of $9.82. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.23. Höegh LNG Partners has a twelve month low of $4.67 and a twelve month high of $17.28.

Höegh LNG Partners (NYSE:HMLP) last released its quarterly earnings results on Thursday, August 20th. The shipping company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.15. The company had revenue of $34.44 million during the quarter, compared to analysts’ expectations of $35.46 million. Höegh LNG Partners had a return on equity of 20.11% and a net margin of 39.28%. Equities research analysts expect that Höegh LNG Partners will post 1.74 EPS for the current year.

Höegh LNG Partners Company Profile

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. The company also offers ship management services. As of March 31, 2019, it had a fleet of five FSRUs.

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