BW LPG (NYSE:BWLP) Shares Gap Up – Still a Buy?

Shares of BW LPG Limited (NYSE:BWLP) gapped up prior to trading on Wednesday . The stock had previously closed at $14.57, but opened at $15.18. BW LPG shares last traded at $15.3450, with a volume of 83,080 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Dnb Carnegie cut shares of BW LPG from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Clarkson Capital upgraded BW LPG from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of BW LPG in a research note on Wednesday, January 21st. Finally, Kepler Capital Markets downgraded BW LPG from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.

BW LPG Stock Performance

The company has a quick ratio of 1.21, a current ratio of 1.50 and a debt-to-equity ratio of 0.42. The stock has a market cap of $2.44 billion and a price-to-earnings ratio of 10.09. The stock’s fifty day moving average is $15.91 and its 200-day moving average is $14.29.

BW LPG (NYSE:BWLP) last posted its earnings results on Tuesday, March 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.09. BW LPG had a net margin of 6.76% and a return on equity of 12.61%. The company had revenue of $732.40 million for the quarter, compared to analyst estimates of $217.18 million.

BW LPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Friday, March 13th will be given a dividend of $5.4297 per share. This is an increase from BW LPG’s previous quarterly dividend of $0.40. This represents a $21.72 dividend on an annualized basis and a dividend yield of 134.6%. The ex-dividend date of this dividend is Friday, March 13th. BW LPG’s payout ratio is 142.50%.

Hedge Funds Weigh In On BW LPG

Several institutional investors and hedge funds have recently modified their holdings of BWLP. The Manufacturers Life Insurance Company raised its holdings in BW LPG by 0.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 251,070 shares of the company’s stock worth $3,295,000 after buying an additional 677 shares during the period. Glenorchy Capital Ltd boosted its holdings in shares of BW LPG by 1.5% in the fourth quarter. Glenorchy Capital Ltd now owns 49,850 shares of the company’s stock valued at $653,000 after buying an additional 722 shares during the period. Quantbot Technologies LP boosted its holdings in shares of BW LPG by 10.1% in the third quarter. Quantbot Technologies LP now owns 9,119 shares of the company’s stock valued at $130,000 after buying an additional 837 shares during the period. Invesco Ltd. increased its position in shares of BW LPG by 4.3% during the fourth quarter. Invesco Ltd. now owns 26,172 shares of the company’s stock worth $343,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of BW LPG by 24.6% during the second quarter. Osaic Holdings Inc. now owns 7,086 shares of the company’s stock worth $84,000 after acquiring an additional 1,400 shares during the period.

About BW LPG

BW LPG (NYSE: BWLP) is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company’s core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.

Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.