Golar LNG Limited (NASDAQ:GLNG) Plans Quarterly Dividend of $0.25

Golar LNG Limited (NASDAQ:GLNG) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.25 per share by the shipping company on Tuesday, March 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Tuesday, March 11th.

Golar LNG has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Golar LNG to earn $1.62 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 61.7%.

Golar LNG Stock Performance

GLNG traded down $0.06 on Friday, hitting $38.34. 2,078,664 shares of the company were exchanged, compared to its average volume of 1,186,445. Golar LNG has a fifty-two week low of $19.94 and a fifty-two week high of $44.36. The firm has a market capitalization of $4.00 billion, a P/E ratio of 273.88 and a beta of 0.55. The business’s fifty day moving average is $41.19 and its 200 day moving average is $38.14.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Golar LNG to a “sell” rating in a research report on Monday, December 9th. Stifel Nicolaus lifted their target price on shares of Golar LNG from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Fearnley Fonds lowered shares of Golar LNG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, DNB Markets cut shares of Golar LNG from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.13.

Golar LNG Company Profile

Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates through three segments: FLNG, Corporate and Other, and Shipping. It engages in the regasification, storage, and offloading of liquefied natural gas (LNG); operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities.