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

Shares of Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $56.00 and last traded at $55.5010, with a volume of 597 shares. The stock had previously closed at $55.18.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LPG. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Pareto Securities restated a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Finally, Jefferies Financial Group lifted their target price on shares of Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Trading Down 0.7%

The company’s 50 day moving average price is $46.59 and its two-hundred day moving average price is $40.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The stock has a market capitalization of $2.34 billion, a PE ratio of 7.32 and a beta of 0.61.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings data on Tuesday, August 4th. The shipping company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.40. The company had revenue of $187.88 million during the quarter, compared to analysts’ expectations of $160.78 million. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. Dorian LPG’s revenue was up 123.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 EPS.

Dorian LPG Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th were given a $1.00 dividend. The ex-dividend date was Monday, July 27th.

Insider Activity at Dorian LPG

In other Dorian LPG news, CFO Theodore B. Young sold 11,919 shares of the business’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.50, for a total transaction of $649,585.50. Following the transaction, the chief financial officer owned 107,794 shares of the company’s stock, valued at approximately $5,874,773. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Alexander C. Hadjipateras sold 5,000 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $54.13, for a total value of $270,650.00. Following the completion of the sale, the chief operating officer owned 95,836 shares of the company’s stock, valued at approximately $5,187,602.68. The trade was a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 126,000 shares of company stock valued at $6,163,449. 13.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake 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 valued at $32,000 after buying an additional 1,315 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Dorian LPG in the second quarter valued at approximately $37,000. KBC Group NV purchased a new position in Dorian LPG in the first quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its position 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 worth $40,000 after acquiring an additional 1,340 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in Dorian LPG in the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG’s fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.