BROOKFIELD Corp ON Grows Stock Holdings in Golar LNG Limited $GLNG

BROOKFIELD Corp ON increased its stake in shares of Golar LNG Limited (NASDAQ:GLNG) by 12.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 789,859 shares of the shipping company’s stock after purchasing an additional 89,512 shares during the period. BROOKFIELD Corp ON owned 0.78% of Golar LNG worth $42,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Golar LNG by 278.2% in the third quarter. Caitong International Asset Management Co. Ltd now owns 658 shares of the shipping company’s stock worth $27,000 after buying an additional 484 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Golar LNG by 108.5% during the first quarter. AdvisorNet Financial Inc now owns 515 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 268 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Golar LNG during the 4th quarter worth approximately $44,000. EverSource Wealth Advisors LLC boosted its holdings in Golar LNG by 94.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,356 shares of the shipping company’s stock valued at $56,000 after purchasing an additional 657 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in Golar LNG in the 4th quarter valued at $65,000. 92.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Golar LNG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. BTIG Research reissued a “buy” rating and set a $67.00 price objective on shares of Golar LNG in a research note on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Golar LNG in a research note on Thursday, May 21st. Pareto Securities lowered Golar LNG from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen lowered Golar LNG from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.70.

Golar LNG Price Performance

Shares of NASDAQ:GLNG opened at $48.62 on Monday. The firm has a market capitalization of $4.93 billion, a PE ratio of 35.23 and a beta of 0.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.57 and a current ratio of 2.57. Golar LNG Limited has a 52-week low of $35.02 and a 52-week high of $57.79. The firm has a fifty day moving average of $50.77 and a 200 day moving average of $48.76.

Golar LNG (NASDAQ:GLNG) last released its quarterly earnings results on Thursday, March 26th. The shipping company reported $0.82 earnings per share for the quarter. Golar LNG had a return on equity of 6.86% and a net margin of 30.10%.The business had revenue of $137.55 million for the quarter. As a group, research analysts anticipate that Golar LNG Limited will post 0.72 EPS for the current fiscal year.

Golar LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, June 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, June 1st. Golar LNG’s dividend payout ratio (DPR) is currently 72.46%.

About Golar LNG

Golar LNG Ltd. is a leading owner and operator of liquefied natural gas (LNG) carriers and floating infrastructure. The company specializes in the transportation of LNG on long-term and spot charters for major energy firms around the world. In addition to shipping, Golar LNG has broadened its services to include project development and the conversion of existing carriers into Floating Liquefied Natural Gas (FLNG) and Floating Storage and Regasification Unit (FSRU) vessels.

Since pioneering the first purpose-built FLNG conversion project, Golar LNG has been at the forefront of offshore gas monetization.