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GLOG

GasLog

$16.35

0.15 (0.93%)

, GLOP

GasLog Partners

$24.60

-0.15 (-0.61%)

07:18
08/20/18
08/20
07:18
08/20/18
07:18

GasLog signs two charter party agreements with Cheniere Energy subsidiary

GasLog (GLOG) announced the signing of two new charter party agreements, each for a firm period of seven years, with a wholly owned subsidiary of Cheniere Energy (LNG). To fulfil the Charters, two 174,000 cubic meter LNG carriers with low pressure two stroke propulsion have been ordered from South Korea, with expected delivery in late 2020. The rate of hire for the Charters is broadly in line with mid-cycle rates and delivers returns in line with GasLog's financial strategy. In addition to the Charters, GasLog has agreed with Cheniere an option for the charter of one or two additional newbuild vessels. GasLog Partners (GLOP) has the right to acquire the vessels delivered into the Charters pursuant to the omnibus agreement between GasLog and GasLog Partners. As a result, GasLog Partners' potential dropdown pipeline will increase to 11 LNG carriers with charter length of five years or longer.

GLOG

GasLog

$16.35

0.15 (0.93%)

GLOP

GasLog Partners

$24.60

-0.15 (-0.61%)

LNG

Cheniere Energy

$61.51

0.25 (0.41%)

  • 01

    Oct

GLOG GasLog
$16.35

0.15 (0.93%)

04/23/18
STFL
04/23/18
DOWNGRADE
Target $19
STFL
Hold
GasLog downgraded to Hold from Buy at Stifel
Stifel analyst Benjamin Nolan downgraded GasLog to Hold from Buy as he believes that a sustainable recovery in LNG shipping rates may be somewhat protracted following a delay in a major new U.S. export project combined with a recent surge in ship ordering. He lowered his price target on GasLog to $19 from $20.
07/18/18
BTIG
07/18/18
INITIATION
Target $23
BTIG
Buy
GasLog, GolarLNG initiated with a Buy at BTIG
BTIG analyst Gregory Lewis initiated GasLog (GLOG) and Golar LNG (GLNG) with a Buy rating and respective $23 and $35 price targets as part of his broader launch of coverage on the LNG shipping industry. Lewis says he is bullish on the LNG shipping trends over the medium term and expects average prices to move above mid-cycle levels over the next two years thanks to the spike in shipping rates in a tight market. The analyst further notes that "increasing liquefaction capacity growth of about 10% annually through 2020 will drive increased demand for seaborne LNG. Lewis also initiates GasLog Partners (GLOP) at a Buy with a $30 price target based on its "identifiable growth pipeline which should drive distribution growth higher", and also starts Golar LNG Partners (GMLP) and Hoegh LNG (HMLP) at Neutral given their low distribution rates.
08/09/18
MSCO
08/09/18
UPGRADE
MSCO
Overweight
GasLog upgraded to Overweight from Equal Weight at Morgan Stanley
08/09/18
08/09/18
UPGRADE
Target $22

Overweight
GasLog upgraded to Overweight on tighter LNG shipping market at Morgan Stanley
As previously reported, Morgan Stanley analyst Fotis Giannakoulis upgraded GasLog to Overweight from Equal Weight, noting that the LNG shipping market is rapidly tightening and stating that he expects GasLog's leading position should allow it to outgrow its peers. He also sees global demand exceeding expectations, driven by China's environmental initiatives. Giannakoulis raised his price target on GasLog shares to $22 from $20.
GLOP GasLog Partners
$24.60

-0.15 (-0.61%)

12/18/17
JEFF
12/18/17
INITIATION
Target $28
JEFF
Buy
GasLog Partners assumed with a Buy at Jefferies
Jefferies analyst Randy Giveans assumed coverage of GasLog Partners with a Buy rating and $28 price target. The analyst assumed coverage of 23 energy maritime shipping names saying the industry is "primed for significant improvement." For the first time in 10 years, the analyst expects capacity shortages with demand growth to outpace supply growth in every shipping sector in 2018.
05/17/18
RILY
05/17/18
INITIATION
Target $26
RILY
Neutral
GasLog Partners initiated with a Neutral at B. Riley FBR
B. Riley FBR analyst Robert Balsamo started GasLog Partners with a Neutral rating and $26 price target.
LNG Cheniere Energy
$61.51

0.25 (0.41%)

03/15/18
03/15/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Radian Group (RDN) initiated with a Neutral at Macquarie. 2. Cheniere Energy (LNG) initiated with a Buy at BofA/Merrill. 3. Avid Bioservices (CDMO) initiated with an Outperform at Wells Fargo. 4. Quintana Energy Services (QES) initiated with an Overweight at Capital One. 5. II-VI (IIVI) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/26/18
BERN
03/26/18
UPGRADE
BERN
Outperform
Cheniere Energy upgraded to Outperform from Market Perform at Bernstein
03/27/18
03/27/18
UPGRADE
Target $63

Outperform
Cheniere Energy upgraded to Outperform at Bernstein
As previously reported, Bernstein analyst Jean Ann Salisbury upgraded Cheniere Energy to Outperform from Market Perform as lower gas price drives better margins on marketing, and an improved discount rate as US LNG should be the lowest cost supply and thus unlikely to be reneged on. The analyst also raised her price target on the shares to $63 from $55.
07/05/18
LEHM
07/05/18
NO CHANGE
Target $77
LEHM
Overweight
Cheniere Energy price target raised to $77 from $65 at Barclays
Barclays analyst Christine Cho raised her price target for Cheniere Energy (LNG) to $77 and keeps an Overweight rating on the shares. She also raised her price target for Equal Weight-rated Cheniere Energy Partners (CQP) to $38 from $35 and Equal Weight-rated Cheniere Energy Partners LP (CQH) to $37 from $32. Cho estimates the combination of Train 6 and Cheniere Energy Partners' buy-in will add $440 in discounted cash flow to Cheniere Energy on a pre-tax basis. At a 7.5% discounted cash flow yield, the analyst estimates this equates to about $20 per Cheniere Energy share on an undiscounted basis. She thinks the stock could trade to $100 as 2024 approaches, all else being equal.

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