StockNews.com Initiates Coverage on GasLog Partners (NYSE:GLOP)

Posted by on Jun 7th, 2023

Stock analysts at StockNews.com began coverage on shares of GasLog Partners (NYSE:GLOP – Get Rating) in a research note issued on Wednesday. The firm set a “buy” rating on the shipping company’s stock.

GasLog Partners Stock Performance

Shares of NYSE GLOP opened at $8.56 on Wednesday. The company’s fifty day moving average price is $8.48 and its 200 day moving average price is $8.05. GasLog Partners has a 1 year low of $4.70 and a 1 year high of $9.27. The company has a market capitalization of $451.97 million, a PE ratio of 4.84 and a beta of 2.40. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.98 and a current ratio of 0.99.

GasLog Partners (NYSE:GLOP – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The shipping company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.16. GasLog Partners had a net margin of 29.49% and a return on equity of 21.63%. The firm had revenue of $99.07 million for the quarter, compared to the consensus estimate of $88.76 million. On average, research analysts predict that GasLog Partners will post 2.24 earnings per share for the current year.

Hedge Funds Weigh In On GasLog Partners

A number of large investors have recently added to or reduced their stakes in the stock. Ahrens Investment Partners LLC acquired a new position in GasLog Partners during the first quarter worth $25,000. Jump Financial LLC raised its position in GasLog Partners by 9.5% during the first quarter. Jump Financial LLC now owns 40,300 shares of the shipping company’s stock worth $339,000 after acquiring an additional 3,500 shares during the period. UBS Group AG raised its position in GasLog Partners by 5.6% during the third quarter. UBS Group AG now owns 72,826 shares of the shipping company’s stock worth $376,000 after acquiring an additional 3,840 shares during the period. LPL Financial LLC raised its position in GasLog Partners by 7.3% during the fourth quarter. LPL Financial LLC now owns 58,116 shares of the shipping company’s stock worth $387,000 after acquiring an additional 3,970 shares during the period. Finally, Dorsey Wright & Associates acquired a new position in GasLog Partners during the fourth quarter worth $27,000. 12.32% of the stock is currently owned by institutional investors and hedge funds.

GasLog Partners Company Profile

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GasLog Partners LP acquires, owns, and operates liquefied natural gas (LNG) carriers provides LNG transportation services worldwide. As of February 28, 2023, it operated a fleet of 14 LNG carriers. The company was founded in 2014 and is based in Piraeus, Greece.

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