|Over a month ago|
Teekay LNG reports Q2 adjusted EPS 57c, consensus 63c » 05:1808/0508/05/21
Reports Q2 revenue…
Reports Q2 revenue $148.77M, consensus $140.03M. "Teekay LNG reported another quarter of strong results today, with second quarter of 2021 adjusted net income(1) of $0.57 per common unit and over $183.5 million of total adjusted EBITDA(1)," commented Mark Kremin, president and CEO of Teekay. "As expected, our results in the second quarter reflect a heavier than normal drydock schedule. Looking ahead, our third quarter 2021 results are also expected to be impacted by a heavy drydock schedule; however, for the fourth quarter of 2021, we are expecting a bounce back as a result of a substantially reduced number of drydock days across the fleet."
|Over a quarter ago|
Teekay LNG price target raised to $14 from $13 at Deutsche Bank » 07:0205/1905/19/21
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra raised the firm's price target on Teekay LNG to $14 from $13 and keeps a Hold rating on the shares. Bulker rates were mixed with Capesize rates down 18% week-over-week, averaging $31,000 per day, while Kamsarmax and Supramax rates were up 3%, averaging $28,000 and $27,000 per day, respectively, Mehrotra tells investors in a research note.
Teekay LNG price target raised to $17 from $15.50 at B. Riley » 08:1705/1405/14/21
B. Riley analyst Liam…
B. Riley analyst Liam Burke raised the firm's price target on Teekay LNG Partners to $17 from $15.50 and keeps a Buy rating on the shares. In addition to the short-term recovery in liquified natural gas consumption, there is solid underlying demand for LNG, which is estimated to grow by more than 3% to 5% annually until 2030, Burke tells investors in a research note.
Teekay LNG reports Q1 adjusted EPS 61c, consensus 59c » 05:3105/1305/13/21
Reports Q1 revenue…
Reports Q1 revenue $152.8M, consensus $145.61M. "The strength of our fixed-rate LNG contract portfolio was evident again this quarter as Teekay LNG continued to generate strong earnings and cash flows even as the broader spot LNG shipping market declined from the high levels experienced during the recent winter period," commented Mark Kremin, president and CEO of Teekay Gas Group. "This decline was short-lived, however, as LNG demand rebounded counter-seasonally in late-March and into the second quarter of 2021. We were able to take advantage of this strength by chartering out three LNG vessels, including one on a 12-month spot market-linked contract that allows us to achieve full utilization of the vessel while also retaining upside to strong markets. As a result of these recent charters, our LNG fleet is now 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022, providing us with a great deal of forward visibility on our business and cash flows."
Teekay LNG boosts dividend 15% to 28.75c per share » 16:1704/1504/15/21
Teekay, the general…
Teekay, the general partner of Teekay LNG Partners has declared a cash distribution of 28.75c per common unit for the quarter ended March 31, representing a 15% increase over the previous quarter's distribution. This corresponds to $1.15 per common unit on an annualized basis. The cash distribution is payable on May 14, to all common unitholders of record on May 5
Teekay LNG price target raised to $15.50 from $13 at B. Riley Securities » 08:2503/0103/01/21
B. Riley Securities…
B. Riley Securities analyst Liam Burke raised the firm's price target on Teekay LNG to $15.50 from $13 and keeps a Buy rating on the shares. The company increased its payout on strong distribution coverage, Burke tells investors in a research note.
Teekay LNG reports Q4 adjusted EPS 61c, consensus 61c » 05:2702/2502/25/21
Reports Q4 revenue…
Reports Q4 revenue $154.08M, consensus $145.92M. "For both the fourth quarter and fiscal year 2020, we generated strong earnings and cash flows resulting in the highest ever recorded annual adjusted results for Teekay LNG," commented Mark Kremin, president and CEO of Teekay Gas Group. "During a year which saw extreme volatility in gas prices, LNG shipping rates and equity markets, our strategy of chartering substantially all of our LNG fleet on long-term contracts helped us to achieve consistently strong results throughout the year and to maintain certainty and forward visibility amid the unprecedented uncertainty and volatility that impacted many others in the broader energy space in 2020." Mr. Kremin continued, "In 2020, we increased our total adjusted EBITDA(i) and adjusted net income(i) by 11 percent and 39 percent, respectively, over our 2019 fiscal results, while simultaneously reducing our proportionate net debt(ii) by nearly $560 million(iii), or over 10 percent."
Teekay LNG price target raised to $14 from $12 at Jefferies » 07:5801/2901/29/21
Jefferies analyst Randy…
Jefferies analyst Randy Giveans raised the firm's price target on Teekay LNG to $14 from $12 and keeps a Hold rating on the shares. During the quarter, LNG carrier spot rates soared on strong demand from Asia, dry bulk rates were "highly volatile on choppy Brazilian iron ore production," and crude and refined products tanker rates remained under pressure, Giveans tells investors s part of his Q4 preview for the maritime group.
Teekay LNG reports Q3 adj. EPS 59c, consensus 56c » 05:2811/1211/12/20
Reports Q3 revenue…
Reports Q3 revenue $148.94M, consensus $144.69M. "We generated strong earnings and cash flow again this quarter, despite a higher than usual number of scheduled drydockings," commented Mark Kremin, president and CEO of Teekay Gas Group. "We expect our earnings and cash flows to increase in the fourth quarter of 2020 and we continue to be on track to meeting the 2020 financial guidance we provided earlier this year."