Dorian LPG (NYSE:LPG) Shares Gap Up Following Better-Than-Expected Earnings

Dorian LPG Ltd. (NYSE:LPG)’s stock price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $42.32, but opened at $45.60. Dorian LPG shares last traded at $45.8810, with a volume of 272,542 shares changing hands.

The shipping company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.53. Dorian LPG had a net margin of 29.88% and a return on equity of 11.82%. The company had revenue of $153.27 million during the quarter, compared to analyst estimates of $126.25 million. During the same quarter last year, the business posted $0.25 earnings per share. The company’s revenue was up 102.0% on a year-over-year basis.

Dorian LPG Announces Dividend

The firm also recently declared a special dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, May 18th. Dorian LPG’s dividend payout ratio (DPR) is currently 35.21%.

Wall Street Analyst Weigh In

A number of research firms have commented on LPG. Weiss Ratings reissued a “hold (c+)” rating on shares of Dorian LPG in a research note on Wednesday, April 22nd. Jefferies Financial Group began coverage on Dorian LPG in a research note on Friday, April 24th. They issued a “buy” rating and a $42.00 target price for the company. Wall Street Zen cut Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Dorian LPG currently has an average rating of “Hold” and a consensus target price of $42.00.

Institutional Investors Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its stake in shares of Dorian LPG by 14.0% during the first quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock valued at $89,000 after acquiring an additional 318 shares during the period. IHT Wealth Management LLC raised its holdings in Dorian LPG by 2.1% during the 4th quarter. IHT Wealth Management LLC now owns 17,804 shares of the shipping company’s stock worth $433,000 after purchasing an additional 365 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Dorian LPG by 0.8% during the 4th quarter. WINTON GROUP Ltd now owns 44,640 shares of the shipping company’s stock worth $1,087,000 after purchasing an additional 373 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Dorian LPG by 3.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,286 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 390 shares during the period. Finally, CoreCap Advisors LLC boosted its stake in shares of Dorian LPG by 18.7% in the 4th quarter. CoreCap Advisors LLC now owns 3,269 shares of the shipping company’s stock valued at $80,000 after purchasing an additional 514 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

Dorian LPG Stock Up 8.6%

The firm’s 50 day moving average price is $35.87 and its 200-day moving average price is $30.99. 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 $1.96 billion, a P/E ratio of 16.16 and a beta of 0.63.

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.