Steward Partners Investment Advisory LLC Buys 558 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Steward Partners Investment Advisory LLC grew its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 27.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,588 shares of the company’s stock after acquiring an additional 558 shares during the period. Steward Partners Investment Advisory LLC’s holdings in FLEX LNG were worth $59,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLNG. Jennison Associates LLC bought a new position in FLEX LNG in the 3rd quarter worth approximately $1,460,000. AlphaCentric Advisors LLC bought a new position in FLEX LNG in the 4th quarter worth approximately $1,198,000. Denali Advisors LLC boosted its holdings in FLEX LNG by 19.8% in the 4th quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock worth $5,434,000 after buying an additional 39,100 shares during the period. New York State Common Retirement Fund boosted its holdings in FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock worth $2,258,000 after buying an additional 29,000 shares during the period. Finally, Barclays PLC boosted its holdings in FLEX LNG by 124.3% in the 3rd quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after buying an additional 27,746 shares during the period.

FLEX LNG Stock Performance

NYSE FLNG opened at $22.54 on Wednesday. FLEX LNG Ltd. has a 1 year low of $20.85 and a 1 year high of $30.48. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The stock has a market capitalization of $1.21 billion, a PE ratio of 10.34 and a beta of 0.62. The company’s 50 day simple moving average is $24.13 and its two-hundred day simple moving average is $24.43.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same period in the previous year, the firm posted $0.70 EPS. Analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 13.31%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s dividend payout ratio is presently 137.61%.

Analyst Ratings Changes

FLNG has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a “hold” rating in a report on Monday, February 17th.

FLEX LNG Company Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.