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© Reuters.
On Monday, Citigroup (NYSE:) resumed its evaluation of marine LNG infrastructure agency Golar Lng (NASDAQ:GLNG), recommending a impartial stance. The monetary establishment’s one-year worth forecast for the corporate stands at $33.15, suggesting a possible upside of 43.32% from its current closing worth of $23.13. The corporate’s annual income is projected to succeed in $372 million, marking a rise of 33.46%. The non-GAAP EPS is projected at 1.85.
Golar Lng, recognized for creating the world’s first Floating LNG liquefaction terminal (FLNG (OL:)) and Floating Storage and Regasification Unit (FSRU), has additionally accomplished Entrance Finish Engineering and Design (FEED) research for a bigger newbuild FLNG answer. The agency is exploring alternatives for the floating manufacturing of blue and inexperienced ammonia, in addition to carbon discount in LNG manufacturing.
On August 10, 2023, Golar Lng declared an everyday quarterly dividend of $0.25 per share ($1.00 annualized), paid out to shareholders on file as of August 21, 2023, on August 29, 2023. On the present share worth of $23.13/share, this interprets to a dividend yield of 4.32%. Over the previous 5 years, the common dividend yield has been 2.81%, with the best being 4.69% and the bottom at 1.04%. The present dividend yield is considerably increased than the historic common by 1.48 customary deviations.
Institutional possession at present consists of 394 funds or establishments holding positions in Golar Lng – a lower of twenty-two homeowners or 5.29% within the final quarter. Complete shares owned by establishments have decreased by 2.59% to 81,022K shares over the past three months. Among the many shareholders, Orbis Allan Grey holds 7,604K shares (7.17% possession), Rubric Capital Administration owns 6,457K shares (6.09% possession), and Millennium Administration holds 4,295K shares (4.05% possession).
The put/name ratio for GLNG stands at 0.48, indicating a bullish market sentiment.
This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.
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