Market Overview

UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT for Golar LNG

Related GMLP
Top 4 Mid-Cap Stocks In The Shipping Industry With The Highest EPS
Top 4 NASDAQ Stocks In The Shipping Industry With The Highest ROI

In a company update published earlier today, Citigroup Inc. reiterated its Neutral rating for Golar LNG Partners LP (NASDAQ: GMLP), but lowered its price target from $37.00 to $33.50.

Citigroup said in its report “GMLP reported adj EBITDA (inc. non-controlling interest) of $40.6 mil vs our est of $43.5 mil and consensus of $41.4 mil. The lower results were due to fewer revenue days and increased costs associated with two FSRUs, the Golar Spirit and Golar Winter, undergoing scheduled annual maintenance during the quarter. DCF of $19.0 mil was 7.7% below our est of $20.6 mil and covered distributions by 1.11x. The partnership had previously announced its distribution of $0.43/unit ($1.72 annualized), flat sequentially.”

Golar LNG Partners LP closed yesterday at $32.07.

Posted-In: Citigroup Inc.Analyst Color Price Target Reiteration Analyst Ratings

 

Related Articles (GMLP)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters

Benzinga Professional