Dorian LPG Ltd. $LPG Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp cut its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 49.0% in the second quarter, Holdings Channel.com reports. The fund owned 29,238 shares of the shipping company’s stock after selling 28,099 shares during the period. Texas Permanent School Fund Corp’s holdings in Dorian LPG were worth $713,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LPG. Intech Investment Management LLC raised its position in Dorian LPG by 616.4% in the first quarter. Intech Investment Management LLC now owns 125,142 shares of the shipping company’s stock valued at $2,796,000 after purchasing an additional 107,675 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Dorian LPG in the second quarter valued at $6,438,000. Millennium Management LLC raised its holdings in shares of Dorian LPG by 3,728.9% in the 1st quarter. Millennium Management LLC now owns 997,470 shares of the shipping company’s stock valued at $22,283,000 after buying an additional 971,419 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Dorian LPG during the 2nd quarter worth about $465,000. Finally, Focus Partners Wealth lifted its stake in Dorian LPG by 18.3% during the 1st quarter. Focus Partners Wealth now owns 294,240 shares of the shipping company’s stock worth $6,573,000 after acquiring an additional 45,590 shares in the last quarter. 62.50% of the stock is owned by hedge funds and other institutional investors.

Dorian LPG Price Performance

Shares of LPG opened at $24.14 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.83 and a beta of 0.60. The firm’s fifty day simple moving average is $25.99 and its 200-day simple moving average is $27.79. Dorian LPG Ltd. has a twelve month low of $16.66 and a twelve month high of $32.79. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.44.

Dorian LPG (NYSE:LPG) last posted its earnings results on Wednesday, November 5th. The shipping company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.09). Dorian LPG had a net margin of 26.02% and a return on equity of 9.13%. The business had revenue of $124.06 million during the quarter, compared to analysts’ expectations of $126.99 million. During the same period last year, the company earned $0.35 EPS. The business’s quarterly revenue was up 50.6% compared to the same quarter last year. Equities analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Monday, November 17th were given a dividend of $0.65 per share. This is a boost from Dorian LPG’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, November 17th. This represents a $2.60 annualized dividend and a dividend yield of 10.8%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Dorian LPG from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Monday. Zacks Research downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Pareto Securities cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Dorian LPG presently has an average rating of “Hold” and a consensus price target of $35.00.

Dorian LPG Company Profile

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.