Dorian LPG (NYSE:LPG) Reaches New 12-Month High – Here’s What Happened

Dorian LPG Ltd. (NYSE:LPG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $35.82 and last traded at $35.3620, with a volume of 914004 shares changing hands. The stock had previously closed at $34.18.

Analyst Upgrades and Downgrades

LPG has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a report on Monday, December 29th. Dnb Carnegie raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Pareto Securities downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.00.

Dorian LPG Trading Up 0.8%

The business’s 50-day simple moving average is $28.34 and its two-hundred day simple moving average is $28.51. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.48 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.41 and a quick ratio of 2.40.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Thursday, February 5th. The shipping company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.06). Dorian LPG had a return on equity of 11.82% and a net margin of 29.88%.The business had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $115.15 million. During the same period last year, the company posted $0.43 earnings per share. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. On average, research analysts anticipate that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, February 9th will be given a dividend of $0.70 per share. This represents a dividend yield of 881.0%. The ex-dividend date of this dividend is Monday, February 9th. Dorian LPG’s payout ratio is presently 35.21%.

Insider Activity

In related news, CFO Theodore B. Young sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $34.84, for a total transaction of $348,400.00. Following the completion of the sale, the chief financial officer directly owned 122,926 shares of the company’s stock, valued at approximately $4,282,741.84. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Hadjipateras acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was purchased at an average cost of $27.30 per share, with a total value of $409,500.00. Following the completion of the transaction, the chief executive officer owned 153,500 shares in the company, valued at $4,190,550. The trade was a 10.83% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Dorian LPG

Institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Dorian LPG in the third quarter worth $41,000. Sunbelt Securities Inc. bought a new position in shares of Dorian LPG during the third quarter worth about $41,000. NewEdge Advisors LLC grew its stake in Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. Citizens National Bank Trust Department bought a new stake in Dorian LPG in the third quarter valued at about $45,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Dorian LPG by 429.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after buying an additional 1,340 shares during the last quarter. 62.50% of the stock is currently owned by hedge funds and other institutional investors.

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.