Sprott Inc. Reduces Stake in Dorian LPG Ltd. $LPG

Sprott Inc. cut its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 48.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,883 shares of the shipping company’s stock after selling 20,282 shares during the period. Sprott Inc.’s holdings in Dorian LPG were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Dorian LPG during the 3rd quarter valued at approximately $41,000. NewEdge Advisors LLC lifted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after acquiring an additional 1,315 shares during the last quarter. Citizens National Bank Trust Department purchased a new position in shares of Dorian LPG during the 3rd quarter worth about $45,000. EverSource Wealth Advisors LLC grew its holdings in Dorian LPG by 429.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Caitlin John LLC purchased a new stake in Dorian LPG in the 3rd quarter worth about $52,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

LPG has been the subject of several recent analyst reports. Pareto Securities lowered Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. Wall Street Zen downgraded Dorian LPG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 22nd. Finally, Dnb Carnegie upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dorian LPG presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Insiders Place Their Bets

In related news, CEO John C. Hadjipateras bought 15,000 shares of the stock in a transaction on Wednesday, January 7th. The stock was bought at an average price of $27.30 per share, for a total transaction of $409,500.00. Following the completion of the acquisition, the chief executive officer directly owned 153,500 shares in the company, valued at approximately $4,190,550. This represents a 10.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Tim Truels Hansen sold 25,000 shares of the stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $28.85, for a total value of $721,250.00. Following the sale, the insider directly owned 212,842 shares in the company, valued at $6,140,491.70. This trade represents a 10.51% decrease in their position. The SEC filing for this sale provides additional information. 13.60% of the stock is owned by company insiders.

Dorian LPG Stock Performance

Shares of Dorian LPG stock opened at $36.29 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average price is $29.95 and its 200-day moving average price is $28.77. The firm has a market cap of $1.55 billion, a P/E ratio of 12.78 and a beta of 0.53. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $38.40.

Dorian LPG (NYSE:LPG) last issued its earnings results on Thursday, February 5th. The shipping company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $115.15 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. The firm’s revenue was up 48.7% on a year-over-year basis. On average, equities research analysts expect that Dorian LPG Ltd. will post 2.6 earnings per share for the current fiscal year.

Dorian LPG Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Tuesday, February 24th. Investors of record on Monday, February 9th were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a yield of 881.0%.

Dorian LPG 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.