In a report issued on March 8, Liam Burke from B.Riley FBR maintained a Hold rating on GasLog Partners (GLOP), with a price target of $27. The company’s shares opened today at $21.91.
Burke commented:
“GasLog Partners LP (GLOP) announced an agreement to purchase from its sponsor, and its charters for $214 million. The purchase price includes $1 million in working capital balances and the transaction is expected to close in early 2Q19. The GasLog Glasgow is estimated to generate about $23.5 million in EBITDA during the first 12 months of its operation under GLOP ownership. Based on an annual estimated EBITDA, the purchase price implies a multiple of about 9.1x EBITDA. The vessel is currently on a multi-year time charter with June 2026. Based on GLOP’s current valuation, which is in line with comparable MLPs, we are maintaining our Neutral rating.”
According to TipRanks.com, Burke is ranked #4437 out of 5218 analysts.
Currently, the analyst consensus on GasLog Partners is a Moderate Buy with an average price target of $25.
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GasLog Partners’ market cap is currently $1.01B and has a P/E ratio of 11.83. The company has a Price to Book ratio of 0.86.
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GasLog Partners LP engages in the owning, operating, and acquiring of liquefied natural gas carriers. The company was founded on January 23, 2014 and is headquartered in Monaco.
