FLEX LNG: LNG Shipping Idea For Income-Minded Investors; Rating Unchanged [Seeking Alpha]
FLEX LNG Ltd. Ordinary Shares (FLNG)
Company Research
Source: Seeking Alpha
Play 11min Summary FLEX LNG owns 13 LNG carriers with an average age of 4.8 years. Nine of the ships have MEGA/MEGI engines, while the other four have X-DF engines. Despite a 33% QoQ net income decline in 2Q24 due to seasonality and higher operating expenses, FLNG maintains a strong balance sheet and attractive dividends. For 2Q24, the company declared a $0.75/share quarterly dividend. At the present stock price, the LTM yield is 11.90%. FLNG's stock trades at 112% PNAV, higher than peers CLCO and CCEC, yet remains a buy due to its superior fleet and robust financials. SHansche Note: I previously covered FLEX LNG ( NYSE: FLNG ) in April. In the article, I wrote about FLNG's strengths: its high-spec fleet, attractive dividends, and healthy balance sheet. The company offered a good balance between fleet qualities, LTV, yields, and valuation. In April, FLNG traded at 103% PNAV. I gave FLNG a buy rating. In today's article, I review the 2Q24 earnings report and the comp
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FLNG
News
- Flex LNG - Company presentation October 2024 [Yahoo! Finance]Yahoo! Finance
- Flex LNG - Company presentation October 2024PR Newswire
- FLEX LNG: 12% Yield, Tailwinds [Seeking Alpha]Seeking Alpha
- Flex LNG finalizes $430M in financing [Seeking Alpha]Seeking Alpha
- Flex LNG finalize $430 million in new financingsPR Newswire
FLNG
Earnings
- 8/14/24 - Beat
FLNG
Sec Filings
- 10/2/24 - Form F-3ASR
- 9/23/24 - Form 6-K
- 8/15/24 - Form 6-K
- FLNG's page on the SEC website