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GasLog Partners LP (GLOP-PC)
NYSE - NYSE Delayed Price. Currency in USD
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At close: 03:53PM EST
1,697 reactions on $GLOP-PC conversation
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I owned GLOG before it was taken private. Then I moved to FLNG thankfully. They at least like their shareholders. I did own GLOP as well, but given their policy of trying to reap all the benefits for themselves. I imagine the now privately owned GLOG will have GLOP pay off most it’s debt while the partners receive next to nothing. Then buy you all out for pennies on the dollar all over again. Don’t expect much upside or a dividend increase ever with this one. Good luck!
Flex just posted blow away numbers with a spot market going through the roof this will drag up even the least valuable ships recharter rates have strengthened dramatically. I can’t see anything but significant upward movement in the price of glop
Will they restart dividend next quarter and at what level
I am thinking yes and 12 cents a qtr
This results in a median present value per one share of USD 8.10. However, even with all scenarios applied, the 25th percentile of the produced result distribution is close to USD 6.45, which by itself is not a bad indication of possible undervaluation (the price of the shares was USD 5.65 at the time of this analysis). Even in this scenario, which is my minimum margin of safety I would feel comfortable with, GasLog appears to be trading below its fair value.
What I don't get is whether free cash flow is used for debt repayment or share buy backs that should in theory cause the share price to jump up - the same way as an increase in the dividend would. But is seems to me that the only way this stock ever gets back above 10 dollars is a significant dividend hike.
Q3 results just released and are good as expected. Key takeaways:
1. Quarterly EPS of $0.37 that beat the expected $0.24.
2. Signed 1y charter GasLog Seattle TotalEnergies SE, extended charter of GasLog Santiago with Trafigura for 1 more year. All vessels chartered at least till March 2022.
3. Repurchased $12.4 million of Series B and Series C Preference Units in the open market.
4. Repaid $36.1 million debt during the Q3'21, or $90.9 million debt in the first 9 months of 2021.
5. Post quarter-end, completed the sale and lease-back of the GasLog Shanghai with CDBL,releasing $20.1 million of incremental net liquidity.
6. Quarterly Revenues, Profit, Adjusted Profit(1) and Adjusted EBITDA(1) of $80.5 million, $26.5 million, $24.7 million and $57.3 million, respectively.
7. Dividend remained at $0.01 per common unit as previously advised.
This is a fivebagger, eventually it will go back to 25. In Q3, cobas asset managment has bought the stock. I consider that Cobas with Parames, are one of the best commodity and cyclical buyers. Thay also have a great position in GOLAR, TKeey etc. With the good results shown, and the willing of managment to reduce debt and increase buy backs. All the condition are given for GLOP to go back to pre-pandemic prices, or even more due to GAS prices.
Looks like I was right! On our way to 4's, this company just doesn't have it to be a money maker unless you are a day trader. It will be longer than 6 months before it gets back to 5.85! Just to let u know, I don't like to be right regarding this stock
Any plans by GLOP to increase the dividend?
Next step up appears to be coming faster than I thought. 7-8$ by year end likely.
waited a year and a half to reach these levels
lol 😂😂 guys really.... let the price breath, this daily price observing doesn't makes you happy, now a lot of people jump to flex, this humpy jumpys look only at the dividend, but not at the long time outlook, let them jump, may the jump back in an year from now.... 👍 i saw this pattern to often pump the stock price with high dividend, then dilut for buying new ships and then dividend cut, i hope for the humpy jumpys flex is not that way but i doubt... we will see in some years, shipping shares are only a buy after a dividend cut.... 👍
I am waiting for the earnings and don’t own stock, but I think this stock looks cheap in a vastly improving segment of the shipping industry. People here like price predictions so I am hoping to buy at 4.50 by year end 2021 and think it could see 9.50 by end of 2022 if the seaborne has charter market continues at its current rates.
As per initial plan the company had 1 vessel to drydock for Q3 and 1 for Q4. In their results off-hire days were 59. That means that both of these vessels went to drydock during Q3 and no off-hire is expected for Q4 and the whole of 2022. This adds about $5-6mil additional revenue for each quarter!
Despite the mon increased in dividends - the huge discount to NAV - the inappropriate treatment of shareholders there is good thing ! They are a target to be bought !
Feels similar to the drive down before glog takeover. 7.5 offer coming soon???
Price target of 12 dollars is possible for this stock in the next 6 months. $20 dollar is a pipe dream.
Up another 3% this morning. My target is $14.
I am surprised the market is having a hissy fit on this one - just because they did not raise their dividend.
Kikos, would you like to get in touch? I liked your thinking on Glop so far, and maybe we can work together if you like (I will explain you my process).
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