Höegh LNG Partners LP (NYSE: HMLP) Sees Strong Short-Term Interest Growth

Höegh LNG Partners LP (NYSE: HMLP – Get Rating) benefited from a sharp increase in short-term interest in August. As of August 31, there was short interest totaling 120,100 shares, an increase of 15.0% from the total of 104,400 shares as of August 15. Currently, 0.7% of the stock’s shares are sold short. Based on an average daily volume of 132,600 shares, the short interest ratio is currently 0.9 days.

Institutional entries and exits

Major investors have recently increased or reduced their stake in the company. Maven Securities LTD purchased a new stake in shares of Höegh LNG Partners during the fourth quarter at a value of $275,000. Belvedere Trading LLC purchased a new stake in shares of Höegh LNG Partners during the first quarter at a value of $320,000. National Bank of Canada FI purchased a new stake in the shares of Höegh LNG Partners during the first quarter at a value of $297,000. Privium Fund Management UK Ltd purchased a new stake in shares of Höegh LNG Partners during the first quarter at a value of $491,000. Finally, Prescott Group Capital Management LLC increased its position in shares of Höegh LNG Partners by 29.0% during the first quarter. Prescott Group Capital Management LLC now owns 550,992 shares of the shipping company worth $4,066,000 after acquiring an additional 123,972 shares during the period. 17.69% of the shares are currently held by institutional investors and hedge funds.

Höegh LNG Partners trades down 0.1%

HMLP opened at $9.22 on Friday. Höegh LNG Partners has a 1-year low of $3.77 and a 1-year high of $9.24. The stock has a market capitalization of $307.67 million, a PE ratio of 5.99 and a beta of 1.39. The company’s 50-day moving average price is $9.17 and its 200-day moving average price is $7.86. The company has a debt ratio of 0.79, a quick ratio of 0.80 and a current ratio of 0.80.

Höegh LNG Partners (NYSE: HMLP – Get Rating) last released its quarterly results on Wednesday, August 24. The shipping company reported EPS of $0.26 for the quarter, missing analyst consensus estimates of $0.40 per ($0.14). Höegh LNG Partners achieved a return on equity of 15.38% and a net margin of 46.33%. The company posted revenue of $36.94 million for the quarter, versus analyst estimates of $35.20 million. In the same quarter last year, the company made ($0.04) earnings per share. As a group, equity research analysts expect Höegh LNG Partners to post EPS of 1.4 for the current year.

Höegh LNG Partners announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 12. Shareholders of record on Monday August 1 received a dividend of $0.01 per share. This represents a dividend of $0.04 on an annualized basis and a yield of 0.43%. The ex-dividend date was Friday, July 29. The dividend payout ratio (DPR) of Höegh LNG Partners is 2.60%.

Wall Street analysts predict growth

Several equity research analysts have commented on HMLP shares. Citigroup downgraded Höegh LNG Partners from a “sell” rating to a “neutral” rating and raised its price target for the stock from $4.25 to $9.25 in a Wednesday, May 25 research note . Stifel Nicolaus downgraded Höegh LNG Partners from a “buy” rating to a “hold” rating in a Wednesday May 25 research note. Finally, StockNews.com downgraded Höegh LNG Partners from a “buy” rating to a “hold” rating in a Thursday, August 25 research rating.

Company Profile Höegh LNG Partners

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Höegh LNG Partners LP is focused on owning, operating and acquiring floating storage and regasification units (FSRUs), liquefied natural gas (LNG) carriers and other LNG infrastructure assets in the long-term charters. As of March 31, 2022, it had a fleet of five FSRUs. Höegh LNG GP LLC is the general partner of the company.

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