Dorian LPG (NYSE:LPG) Sets New 1-Year High – Here’s Why

Shares of Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.40 and last traded at $37.6170, with a volume of 448390 shares. The stock had previously closed at $36.99.

Wall Street Analyst Weigh In

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

Dorian LPG Stock Performance

The stock has a 50 day moving average price of $29.70 and a two-hundred day moving average price of $28.72. 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 company has a market cap of $1.61 billion, a price-to-earnings ratio of 13.25 and a beta of 0.53.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Thursday, February 5th. The shipping company reported $1.11 EPS 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 company had revenue of $118.23 million for the quarter, compared to analyst estimates of $115.15 million. During the same period last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was up 48.7% on a year-over-year basis. Analysts predict that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Announces Dividend

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

Insider Activity at Dorian LPG

In other news, CEO John C. Hadjipateras purchased 15,000 shares of Dorian LPG stock in a transaction dated Wednesday, January 7th. The shares were bought 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 directly owned 153,500 shares in the company, valued at $4,190,550. This trade represents a 10.83% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Theodore B. Young sold 10,000 shares of the company’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 owned 122,926 shares of the company’s stock, valued at approximately $4,282,741.84. This represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 13.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Dorian LPG by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock worth $483,000 after acquiring an additional 914 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Dorian LPG by 1,003.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Dorian LPG by 50.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock valued at $3,977,000 after purchasing an additional 59,311 shares during the period. Jane Street Group LLC increased its stake in Dorian LPG by 130.6% during the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock worth $2,990,000 after purchasing an additional 75,818 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dorian LPG by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 295,457 shares of the shipping company’s stock worth $7,203,000 after buying an additional 5,131 shares during the period. 62.50% of the stock is currently owned by 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.