Market cap of Hoegh LNG Partners LP [HMLP] reaches 187.53M – now what?

Hoegh LNG Partners LP [NYSE: HMLP] loss -10.48% or -0.66 points to close at $5.64 with a heavy trading volume of 3286878 shares. The company report on July 28, 2021 that Höegh LNG Partners LP Declares Distributions and Announces Reduction in Quarterly Cash Distributions to Common Units.

Höegh LNG Partners LP (the “Partnership”) (NYSE: HMLP) announced that its Board of Directors has reduced the Partnership’s quarterly cash distribution to $0.01 per common unit, down from a distribution of $0.44 per common unit in the first quarter of 2021, commencing with the distribution for the second quarter of 2021 payable on August 13, 2021 to common unitholders of record as of the close of business on August 6, 2021. The Partnership needs to conserve its internally generated cash flows to resolve issues related to the ongoing refinancing of the PGN FSRU Lampung credit facility as described below. The Partnership thereafter expects to use its internally generated cash flow to reduce debt levels and strengthen its balance sheet.

There is no change to the $0.546875 quarterly cash distribution relating to the Partnership’s outstanding 8.75% Series A cumulative redeemable preferred units. The cash distribution for the 8.75% Series A preferred units for the period commencing May 15, 2021 to August 14, 2021 will be paid on August 16, 2021 to all 8.75% Series A preferred unitholders of record as of the close of the business on August 9, 2021.

It opened the trading session at $6.13, the shares rose to $6.17 and dropped to $5.52, the range by which the price of stock traded the whole day. The daily chart for HMLP points out that the company has recorded -62.65% loss over the past six months. However, it is still 9.03% higher than its most recent low trading price.

If we look at the average trading volume of 219.62K shares, HMLP reached to a volume of 3286878 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Hoegh LNG Partners LP [HMLP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HMLP shares is $17.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HMLP stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Hoegh LNG Partners LP shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on July 28, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $19 to $7. The new note on the price target was released on July 28, 2021, representing the official price target for Hoegh LNG Partners LP stock. Previously, the target price had yet another drop from $17 to $16, while BofA Securities kept a Underperform rating on HMLP stock. On August 18, 2020, analysts decreased their price target for HMLP shares from 13 to 10.

The Average True Range (ATR) for Hoegh LNG Partners LP is set at 1.18, with the Price to Sales ratio for HMLP stock in the period of the last 12 months amounting to 1.33. The Price to Book ratio for the last quarter was 0.56, with the Price to Cash per share for the same quarter was set at 0.97.

Trading performance analysis for HMLP stock

Hoegh LNG Partners LP [HMLP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -67.59. With this latest performance, HMLP shares dropped by -67.88% in over the last four-week period, additionally sinking by -62.65% over the last 6 months – not to mention a drop of -48.35% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HMLP stock in for the last two-week period is set at 10.47, with the RSI for the last a single of trading hit 7.44, and the three-weeks RSI is set at 13.70 for Hoegh LNG Partners LP [HMLP]. The present Moving Average for the last 50 days of trading for this stock 16.92, while it was recorded at 13.04 for the last single week of trading, and 15.24 for the last 200 days.

Hoegh LNG Partners LP [HMLP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Hoegh LNG Partners LP [HMLP] shares currently have an operating margin of +61.74 and a Gross Margin at +68.55. Hoegh LNG Partners LP’s Net Margin is presently recorded at +44.13.

Return on Total Capital for HMLP is now 9.37, given the latest momentum, and Return on Invested Capital for the company is 7.09. Return on Equity for this stock inclined to 12.69, with Return on Assets sitting at 6.33. When it comes to the capital structure of this company, Hoegh LNG Partners LP [HMLP] has a Total Debt to Total Equity ratio set at 87.79. Additionally, HMLP Total Debt to Total Capital is recorded at 46.75, with Total Debt to Total Assets ending up at 44.11. Long-Term Debt to Equity for the company is recorded at 114.86, with the Long-Term Debt to Total Capital now at 40.36.

Receivables Turnover for the company is 14.06 with a Total Asset Turnover recorded at a value of 0.14.Hoegh LNG Partners LP’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.70.

Hoegh LNG Partners LP [HMLP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HMLP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hoegh LNG Partners LP go to 10.80%.

An analysis of insider ownership at Hoegh LNG Partners LP [HMLP]

There are presently around $34 million, or 19.60% of HMLP stock, in the hands of institutional investors. The top three institutional holders of HMLP stocks are: FMR LLC with ownership of 2,108,740, which is approximately -1.719% of the company’s market cap and around 47.26% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 846,669 shares of the stock with an approximate value of $4.78 million in HMLP stocks shares; and MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., currently with $3.03 million in HMLP stock with ownership of nearly New of the company’s market capitalization.

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Positions in Hoegh LNG Partners LP stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 28 institutional holders increased their position in Hoegh LNG Partners LP [NYSE:HMLP] by around 1,267,122 shares. Additionally, 18 investors decreased positions by around 1,713,541 shares, while 8 investors held positions by with 3,108,434 shares. The mentioned changes placed institutional holdings at 6,089,097 shares, according to the latest SEC report filing. HMLP stock had 14 new institutional investments in for a total of 943,867 shares, while 4 institutional investors sold positions of 15,194 shares during the same period.

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