Teekay LNG Partners L.P. (TGP) - NYSE
  • 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.
    | Tue, May 31, 12:41 PM | 2 Comments
  • 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%.
    | Dec. 18, 2015, 5:30 PM | 4 Comments
  • Dec. 17, 2015, 12:45 PM
    | Dec. 17, 2015, 12:45 PM | 2 Comments
  • Dec. 17, 2015, 10:48 AM
    • GasLog (GLOG -13.6%) and Golar LNG (GLNG -8.1%) are sharply lower in the wake of the Teekay dividend cuts, as the market focuses on GLOG and GLNG following Teekay's (TK -55.6%) announcement and Kinder Morgan's cut earlier this month.
    • Wells Fargo downgrades TK and GLOG to Market Perform from Outperform, saying pressure around dividend cuts is likely to continue weighing on the stocks.
    • The firm issues reduced price target ranges for the stocks, to $18-$20 from $35-$37 for TK and to $10-$12 from $21-$23 at GLNG.
    • Also: TGP -45.8%, GMLP -34%, GLOP -8.4%, STNG -3.5%, NNA -3.2%, NAP -2.2%.
    | Dec. 17, 2015, 10:48 AM | 60 Comments
  • Dec. 17, 2015, 9:56 AM
    • Teekay Corp. (TK -52.2%), Teekay Offshore (TOO -41.4%) and Teekay LNG Partners (TGP -46.3%) are crushed at the open, triggering a circuit breaker halt on the moves after announcing plans to dramatically lower dividend and distribution payouts.
    • The dividend at the TK parent, which is supported primarily by the limited partner and general partner cash flows at the underlying MLPs, is being cut by 90%; TK indicated that cuts were partly in response to upcoming bond maturities, suggesting difficulty in getting funding in that market.
    • TK is hit with at least three downgrades so far, and TOO has received at least two.
    | Dec. 17, 2015, 9:56 AM | 38 Comments
  • Dec. 17, 2015, 9:20 AM
    | Dec. 17, 2015, 9:20 AM
  • Jul. 21, 2015, 10:32 AM
    • The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
    • The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
    • Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
    • The supply of supertankers also has fallen sharply since 2008.
    • Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
    | Jul. 21, 2015, 10:32 AM | 30 Comments
  • Jul. 10, 2015, 10:33 AM
    • Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
    • Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
    • On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of  8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
    • The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
    • The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
    • Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
    | Jul. 10, 2015, 10:33 AM | 12 Comments
  • Jan. 9, 2015, 12:25 PM
    • Frontline (FRO +10.1%) has now jumped 63% this week amid speculation that a plunge in crude prices is spurring demand for the vessels to store cargoes.
    • “The re-emergence of floating storage is what could move the crude tanker market this year from being rather good to possibly very very good," says a shipping analyst at Pareto Securities in Oslo.
    • Traders may park as much as 60M barrels of oil on tankers in the coming months, according to consulting firm JBC Energy.
    • Among other tanker companies: TK +1.2%, TNK +3.4%, TOO -0.3%, TGP -0.1%, TNP -0.7%, GLNG -1.9%, NAT -0.6%, DHT +3.1%.
    • Earlier: Reuters: Oil glut sparks top traders to book supertankers for storage at sea
    | Jan. 9, 2015, 12:25 PM | 5 Comments
  • Sep. 30, 2014, 12:32 PM
    • Teekay (TK +13.8%) says it will change its dividend policy to link its quarterly payouts to growing cash flows from its two MLPs, Teekay LNG Partners (TGP -0.2%)and Teekay Offshore Partners (TOO -1.7%), and includes an 80% increase in its annual dividend effective Q1 2015.
    • The moves prompt Deutsche Bank to upgrade shares to Buy from Hold with a $90 price target, raised from $68; the firm says TK’s "bold" new strategy should result in a 20%/year growth in TK’s dividend for the foreseeable future.
    | Sep. 30, 2014, 12:32 PM
  • Jul. 17, 2014, 4:31 PM
    • Teekay LNG Partners (NYSE:TGP) -4.1% AH after announcing a public offering of 2.8M common units.
    • TGP plans to use the proceeds to fund the equity portion of its first installment payment of ~$95M for six newbuilding liquefied natural gas carriers ordered via its 50/50 joint venture with China LNG Shipping for the Yamal LNG project and to fund a portion of five MEGI newbuildings.
    | Jul. 17, 2014, 4:31 PM
  • Nov. 1, 2013, 3:10 PM
    • Rates for the largest oil tankers are surging, as Chinese freight traders lead an acceleration in Asian demand for the ships to load Middle East crude, sapping a fleet surplus that had made the carriers unprofitable almost all year.
    • A VLCC built 16 years ago reportedly was hired today at ~13% more than yesterday’s prevailing prices, for the biggest one-day gain in 2013; rising demand has cut a capacity surplus to the smallest since June 4, according to a Bloomberg survey.
    • FRO +9.4%, SFL +0.8%, NAT +3%, TK +1.3%, TNK +0.1%, TOO +0.1%, TGP -0.1%.
    | Nov. 1, 2013, 3:10 PM | 2 Comments
  • Oct. 1, 2013, 5:55 PM
    • Teekay LNG Partners (TGP) -4% AH after announcing plans for a public offering of 3M common units.
    • TGP intends to use the net proceeds to partially fund its acquisition of a second LNG carrier newbuilding from Awilco LNG and for general partnership purposes, which may include funding installment payments on future newbuilding deliveries and future vessel acquisitions.
    | Oct. 1, 2013, 5:55 PM
  • Sep. 5, 2012, 9:10 AM
    Premarket gainers: GWRE +14%. PSTI +11%. GDOT +9%. SWY +6%. SRPT +6%.
    Losers: HITK -10%. AUQ -9%. TGP -5%.
    | Sep. 5, 2012, 9:10 AM | 1 Comment
  • Sep. 4, 2012, 4:21 PM

    Teekay LNG Partners (TGP) -4.1% AH after announcing plans to offer 4.6M common units in a public offering; it expects to grant the underwriters a 30-day option to purchase up to an additional 690K units. TGP intends to use the proceeds for general purposes, which may include funding potential future newbuilding deliveries or vessel acquisitions.

    | Sep. 4, 2012, 4:21 PM
  • Apr. 13, 2012, 11:37 AM

    A pair of Teekay (TK -1.6%) spinoffs raised their quarterly dividends late yesterday, joining a growing list of companies seeking to add shareholder value with bigger payouts. Teekay Offshore Partners (TOO +2%) increased its dividend by 2.5%, while Teekay LNG Partners (TGP +0.9%) ups its dividend by 7.1%.

    | Apr. 13, 2012, 11:37 AM
Company Description
Teekay LNG Partners LP provides marine transportation services for liquefied natural gas, liquefied petroleum gas and crude oil. The company operates through two segments: Liquefied Gas and Conventional Tanker. The Liquefied Gas segment consists of liquefied natural gas and liquefied petroleum... More
Industry: Oil & Gas Equipment & Services
Country: United States