Trade Report: The BNP Paribas Arbitrage SA Buys 148,919 Shares of Teekay LNG Partners L.P. (TGP)

The BNP Paribas Arbitrage SA Buys 148,919 Shares of Teekay LNG Partners L.P. (TGP)

BNP Paribas Arbitrage SA raised its stake in Teekay LNG Partners L.P. (NYSE:TGP) by 111.3% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 282,761 shares of the company’s stock after buying an additional 148,919 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.36% of Teekay LNG Partners L.P. worth $4,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TGP. Credit Suisse AG boosted its position in shares of Teekay LNG Partners L.P. by 153.1% in the second quarter. Credit Suisse AG now owns 803,871 shares of the company’s stock valued at $9,044,000 after buying an additional 486,276 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Teekay LNG Partners L.P. by 16.2% in the second quarter. Global X Management Co. LLC now owns 15,825 shares of the company’s stock valued at $178,000 after buying an additional 2,209 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Teekay LNG Partners L.P. during the second quarter valued at approximately $139,000. Neuberger Berman Group LLC boosted its position in shares of Teekay LNG Partners L.P. by 2.0% in the second quarter. Neuberger Berman Group LLC now owns 11,819,003 shares of the company’s stock valued at $132,963,000 after buying an additional 236,850 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Teekay LNG Partners L.P. by 33.9% in the second quarter. Glenmede Trust Co. NA now owns 103,056 shares of the company’s stock valued at $1,158,000 after buying an additional 26,075 shares during the last quarter.

Shares of Teekay LNG Partners L.P. (NYSE:TGP) traded down 3.65% during trading on Friday, hitting $14.50. 141,372 shares of the stock traded hands. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 9.19 and a beta of 1.29. The stock has a 50 day moving average price of $14.67 and a 200-day moving average price of $13.28. Teekay LNG Partners L.P. has a 1-year low of $7.92 and a 1-year high of $23.24.

Teekay LNG Partners L.P. (NYSE:TGP) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.08. Equities analysts forecast that Teekay LNG Partners L.P. will post $1.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Friday, November 4th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend was Wednesday, November 2nd.

TGP has been the topic of several analyst reports. Zacks Investment Research lowered shares of Teekay LNG Partners L.P. from a “buy” rating to a “hold” rating in a research report on Saturday, October 29th. Stifel Nicolaus initiated coverage on shares of Teekay LNG Partners L.P. in a research report on Monday, November 21st. They set a “hold” rating and a $14.50 price target on the stock. Wells Fargo & Co. raised shares of Teekay LNG Partners L.P. from a “market perform” rating to an “outperform” rating in a research report on Friday, September 9th. Jefferies Group reaffirmed a “hold” rating and set a $16.00 price target on shares of Teekay LNG Partners L.P. in a research report on Tuesday, September 13th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $20.00 price target on shares of Teekay LNG Partners L.P. in a research report on Friday, November 4th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Teekay LNG Partners L.P. has a consensus rating of “Hold” and an average target price of $16.92.

Teekay LNG Partners L.P. Company Profile

Teekay LNG Partners L.P. is an international provider of marine transportation services for liquefied natural gas (LNG), liquefied petroleum gas (LPG) and crude oil. The Company’s fleet, excluding newbuildings, consists of approximately 30 LNG carriers (including the six MALT LNG Carriers, four RasGas 3 LNG Carriers, four Angola LNG Carriers and two Exmar LNG Carriers), over 20 LPG carriers (including 20 Exmar LPG Carriers), approximately seven Suezmax-class crude oil tankers and a Handymax product tanker, all of which are double-hulled.

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