The business's revenue for the quarter was down 12.5% compared to the same quarter previous year. The business is scheduled to issue its next earnings results on Thursday, August 3rd. Equities research analysts anticipate that Teekay Offshore Partners L.P. will post $0.25 EPS for the current fiscal year.
TGP has been the subject of a number of analyst reports. Zacks Investment Research's sales averages are an average based on a survey of sell-side research firms that follow Teekay Corporation. The shipping company reported $0.07 EPS for the quarter, beating the Zacks' consensus estimate of ($0.05) by $0.12. The firm had revenue of $244.60 million for the quarter, compared to the consensus estimate of $270 million.
Teekay LNG Partners L.P.is an global well-known provider of marine transportation services for liquefied natural gas, liquefied petroleum gas (LPG) and crude oil. The company's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. Finally, Creative Planning boosted its stake in shares of Teekay Offshore Partners L.P.by 20.7% in the second quarter.
01/23/2017 - Teekay Corporation had its "hold" rating reiterated by analysts at Jefferies. ValuEngine downgraded Teekay LNG Partners L.P. from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 28th. Finally, Royal Bank Of Canada restated a buy rating and set a $8.00 price objective on shares of Teekay Offshore Partners L.P.in a research report on Friday, March 17th.
The majority of analysts covering the equity have either a Buy or Strong Buy recommendation on the stock, yielding a consensus score of 2.30. Out of the analyst recommendations 2 rate Teekay Offshore Partners LP (NYSE:TOO) stock a Buy, 0 rate the stock Outperform, 2 rate Hold, 1 rate Underperform and 0 recommend a Sell.
Trading was light with 141K shares changing hands in the last trading session. Additionally Teekay LNG Partners L.P. announced a dividend paid on Friday August 11th, 2017.
The most current P/E ratio is 10.38 and market capitalization is 1.41B. The company's 50-day moving average is $17.16 and its 200-day moving average is $17.12. Stockholders of record on Friday, August 4th will be given a dividend of 0.055 per share by the shipping company on Wednesday, August 16th. This represents a $0.56 annualized dividend and a yield of 3.16%. The ex-dividend date was Wednesday the 2nd of August 2017.
Several institutional investors have recently modified their holdings of TK. The Missouri-based Benjamin F Edwards Com has invested 0% in Teekay Offshore Partners L.P. (NYSE:TOO). FMR LLC now owns 8,474,399 shares of the shipping company's stock worth $68,049,000 after buying an additional 2,396,112 shares in the last quarter. LLC now owns 40,054 shares of the shipping company's stock valued at $203,000 after buying an additional 1,487 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Teekay Corporation by 24.1% in the first quarter. Berson & Corrado Investment Advisors LLC now owns 651,369 shares of the shipping company's stock worth $1,869,000 after buying an additional 3,944 shares during the period. Van ECK Associates Corp acquired a new position in shares of Teekay Offshore Partners L.P. during the first quarter valued at $4,018,000. Parkside Financial Bank & Trust increased its stake in shares of Teekay Offshore Partners L.P.by 7.3% in the first quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.
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According to Zacks, "TEEKAY OFFSHORE PARTNERS L.P.is a publicly-traded master limited partnership formed by Teekay and is an worldwide provider of marine transportation and storage services to the offshore oil industry".