Teekay LNG – TNK – Teekay reported its 1Q20 results this morning with an EPU of $0.58 which came in below our estimate well as the consensus estimate. The miss was largely attributable to lower than anticipated revenues. Importantly, the partnership reaffirmed its previous 2020 guidance with net income at the midpoint of $230-$270 million, and following its recent recharters, 100% of 2020 days are fixed and 94% of 2021. – BUY – Stifel – May 21, 2020