Teekay LNG Partners LP

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TGP : NYSE : Services
$15.6 -0.45 | -2.8%
Today's Range: 15.35 - 16.1
Avg. Daily Volume: 382400.0
12/09/16 - 11:36 AM ET

Financial Analysis


TEEKAY LNG PARTNERS LP's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. TEEKAY LNG PARTNERS LP has weak liquidity. Currently, the Quick Ratio is 0.77 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 1.62% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY16 Q3 FY15
Net Sales ($mil)100.6698.42
EBITDA ($mil)74.6868.18
EBIT ($mil)50.6345.71
Net Income ($mil)50.117.5


Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)273.69163.87
Total Assets ($mil)4326.54045.69
Total Debt ($mil)2363.152055.09
Equity ($mil)1531.551507.07


Profitability Q3 FY16 Q3 FY15
Gross Profit Margin77.7475.05
EBITDA Margin74.1869.27
Operating Margin50.346.44
Sales Turnover0.090.1
Return on Assets2.963.99
Return on Equity8.3710.72
Debt Q3 FY16 Q3 FY15
Current Ratio0.810.56
Debt/Capital0.610.58
Interest Expense15.6411.18
Interest Coverage3.244.09


Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)79.5779.51
Div / share0.140.7
EPS0.620.0
Book value / share19.2518.95
Institutional Own % n/a n/a
Avg Daily Volume421122.0346619.0

Valuation


HOLD. TEEKAY LNG PARTNERS LP's P/E ratio indicates a significant discount compared to an average of 40.81 for the Oil, Gas & Consumable Fuels industry and a significant discount compared to the S&P 500 average of 25.45. For additional comparison, its price-to-book ratio of 0.84 indicates a significant discount versus the S&P 500 average of 2.82 and a significant discount versus the industry average of 23.55. The current price-to-sales ratio is well above the S&P 500 average and above the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, TEEKAY LNG PARTNERS LP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
TGP 10.19 Peers 40.81   TGP 6.87 Peers 13.41

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

TGP is trading at a significant discount to its peers.

 

Discount. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

TGP is trading at a significant discount to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
TGP 7.89 Peers 56.25   TGP NM Peers 2.25

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

TGP is trading at a significant discount to its peers.

 

Neutral. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

TGP's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
TGP 0.84 Peers 23.55   TGP -3.66 Peers -249.88

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

TGP is trading at a significant discount to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

TGP is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
TGP 3.21 Peers 2.75   TGP 1.42 Peers -20.50

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

TGP is trading at a premium to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

TGP has a sales growth rate that significantly exceeds its peers.

 

 

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