Louisiana State Employees Retirement System Takes $557,000 Position in Dorian LPG Ltd. $LPG

Louisiana State Employees Retirement System acquired a new position in Dorian LPG Ltd. (NYSE:LPG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,300 shares of the shipping company’s stock, valued at approximately $557,000.

A number of other hedge funds have also bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in 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 acquiring an additional 1,315 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Dorian LPG by 429.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock worth $40,000 after acquiring an additional 1,340 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of Dorian LPG during the third quarter valued at approximately $41,000. Hilton Head Capital Partners LLC purchased a new position in shares of Dorian LPG during the fourth quarter valued at approximately $49,000. Finally, Aster Capital Management DIFC Ltd lifted its position in Dorian LPG by 47.8% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,017 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 652 shares during the period. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analyst Weigh In

LPG has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 23rd. Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Finally, Freedom Capital cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Insider Activity

In other news, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the transaction, the director directly owned 66,348 shares of the company’s stock, valued at $2,989,640.88. The trade was a 18.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tim Truels Hansen sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $35.38, for a total value of $707,600.00. Following the transaction, the insider owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. This trade represents a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 13.60% of the company’s stock.

Dorian LPG Stock Performance

Shares of NYSE LPG opened at $39.04 on Wednesday. Dorian LPG Ltd. has a 12-month low of $23.76 and a 12-month high of $48.12. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 8.58 and a beta of 0.66. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $40.65 and a 200 day moving average of $34.70.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.48. The firm had revenue of $153.27 million during the quarter, compared to the consensus estimate of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The company’s revenue for the quarter was up 102.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS.

Dorian LPG Announces Dividend

The business also recently declared a special dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were issued a dividend of $1.00 per share. This represents a yield of 951.0%. The ex-dividend date of this dividend was Monday, May 18th.

About Dorian LPG

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.