Teekay LNG Partners L.P.NYSE
Teekay LNG Partners: 5x Near-Term Dividend Increase; 84% Immediate Upside
J Mintzmyer • 363 Comments
J Mintzmyer • 363 Comments
Fri, Dec. 2, 7:59 AM
- Shipping companies who move oil could be one set of losers following OPEC's deal to cut production for the first time in eight years.
- "Shipping is a volume game, so higher OPEC production has supported the tanker rates over the past few years," according to Rahul Kapoor, director of Drewry Financial Research Services."We don't have the numbers yet... but if all were to come true in terms of cuts, this would be negative for the market."
- Related tickers: DHT, EURN, FRO, GASS, GLNG, GNRT, NAT, NAP, SFL, TGP, TK, TNK, TNP, TOPS
Mon, Nov. 21, 3:44 PM
- GasLog Partners (GLOP +2%) is initiated at Buy with a $24 price target at Stifel, which believes the marine MLP is well positioned for growth given a strong backlog of dropdown candidates at the sponsor levels and the strengthening fundamentals of the liquefied natural gas market.
- The firm expects GLOP distributions to grow by at least 10%/year for the next several years and thinks units are attractively valued, trading at a 9.7% yield.
- Stifel also initiates Teekay LNG Partners (TGP +3.5%) with a Hold rating and $14.50 price target, believing that TGP can now refocus on absorbing built-in growth now that it has largely refinanced and recapitalized the business.
- But the firm says several loans remain to be refinanced and several vessels are not earning their full contracted rates, thus distribution growth likely will be gradual and back-end loaded for 2018 and 2019.
Thu, Nov. 3, 2:10 AM
Thu, Oct. 27, 5:58 PM
- Teekay Corp. (NYSE:TK) says President and CEO Peter Evensen plans to retire effective Jan. 31, to be succeeded by current Teekay Offshore Group President and CEO Kenneth Hvid.
- Evensen also will retire from his positions as CEO and CFO of Teekay LNG Partners (NYSE:TGP) and Teekay Offshore Partners (NYSE:TOO) and all his board positions.
- Ingvild Saether is appointed President and CEO of Teekay Offshore Group and Mark Kremin is named President and CEO of Teekay Gas Group (TGP).
- Evensen joined Teekay in 2004 and became CEO in 2011.
Mon, Oct. 3, 4:25 PM
Fri, Sep. 9, 1:58 PM
- Teekay LNG Partners (TGP +8.2%) is upgraded to Outperform from Market Perform at Wells Fargo, which says the stock's discount to net asset value and the company's progress around financing its order book make for compelling valuation.
- The firm believes those factors, combined with the opening of the capital markets and a modestly firming liquefied natural gas industry help set the stage for an eventual recovery at TGP.
- Wells also estimates distribution coverage ratios of 6.68x-7.98x for TGP through 2017, with surplus cash likely used to minimize the risk of a near-term equity need.
Fri, Sep. 9, 12:45 PM
Thu, Aug. 4, 3:32 AM
Fri, Jul. 1, 7:09 AM
Sun, Jun. 26, 6:35 AM
- Panama officially opens an addition to its legendary sea canal today, capping a nine-year, $5.4B expansion project that will double shipping capacity and affect global trade routes.
- A third lane has been added to the waterway that can accommodate a new generation of super cargo ships large enough to carry up to 14K containers, compared with around 5K currently.
- Check out a time-lapse video of the construction here
- Related tickers: MATX, KEX, CMRE, SSW, DAC, NMM, SINO, SB, DCIX, GOGL, ALEX, DAC, GSL, ESEA, EURN, NAT, OSGB, TGP
Tue, May 31, 12:41 PM
- Teekay (TK +4.2%) “continues to enjoy strong support from its lenders and its major shareholder that are willing to provide additional capital to deal with the funding gap" from its $4.6B capex, Morgan Stanley says as it maintains its Equal Weight rating on the stock while raising its price target to $8 from $7.
- Stanley says Teekay Offshore Partners (TOO +4%) is close to completing its capitalization plan, which is expected to improve liquidity while deferring any funding gap to after 2017, while the funding gap for Teekay LNG Partners (TGP +1.2%) appears to be narrowing, with management expecting high newbuild financing.
- However, the firm also notes that TOO continues to have the highest exposure in the group to high dilution risk, given its expiring offshore contracts, large debt maturities and aging assets.
Thu, May 19, 5:21 AM
- Teekay LNG Partners (NYSE:TGP): Q1 Adj. net income of $34.2M.
- Revenue of $95.77M (-1.6% Y/Y) misses by $5.25M.
Fri, Apr. 1, 7:07 AM
- Teekay LNG (NYSE:TGP) declares $0.14/share quarterly dividend, in line with previous.
- Forward yield 4.42%
- Payable May 13; for shareholders of record April 29; ex-div April 27.
Thu, Feb. 18, 6:48 AM
- Teekay LNG (NYSE:TGP): Q4 Adj. Net income of $39.5M
- Revenue of $103.64M (+4.3% Y/Y) beats by $2.24M.
Wed, Jan. 20, 8:22 AM
Dec. 18, 2015, 5:30 PM
- Golar LNG Partners (NASDAQ:GMLP) rebounded more than 15% to recover a chunk of its 42% shellacking suffered yesterday amid the Teekay dividend cuts, after saying it has experienced no material changes in its operations since its Q3 earnings announcement on Nov. 30.
- GMLP says its distribution policy has not changed and expects an unchanged distribution of $0.5775/unit in Q4; also, GMLP's board authorizes the repurchase of up to $25M of its outstanding common units.
- The other relevant stocks ended mostly higher: GLOG +2.7%, GLNG +0.1%, GLOP -3.1%, TK +21%, TNK +2.4%, TGP +12.8%, TOO +36.4%.