Healthcare of Ontario Pension Plan Trust Fund Invests $1.49 Million in Dorian LPG Ltd. $LPG

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Dorian LPG Ltd. (NYSE:LPG) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 43,600 shares of the shipping company’s stock, valued at approximately $1,491,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.10% of Dorian LPG at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC increased its position in Dorian LPG by 14.7% during the first quarter. Renaissance Technologies LLC now owns 82,600 shares of the shipping company’s stock worth $2,825,000 after acquiring an additional 10,600 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Dorian LPG in the 1st quarter valued at $11,929,000. Cetera Investment Advisers boosted its holdings in Dorian LPG by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 32,150 shares of the shipping company’s stock valued at $1,100,000 after purchasing an additional 2,117 shares during the period. First Trust Advisors LP grew its position in Dorian LPG by 76.6% in the 1st quarter. First Trust Advisors LP now owns 181,420 shares of the shipping company’s stock worth $6,205,000 after purchasing an additional 78,710 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Dorian LPG by 14.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,590 shares of the shipping company’s stock worth $89,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Dorian LPG Stock Up 2.1%

LPG opened at $47.20 on Friday. Dorian LPG Ltd. has a fifty-two week low of $23.76 and a fifty-two week high of $48.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.67 and a quick ratio of 2.65. The firm’s fifty day moving average price is $41.34 and its two-hundred day moving average price is $36.89. The company has a market capitalization of $2.02 billion, a P/E ratio of 10.37 and a beta of 0.66.

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

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, August 12th. Investors of record on Monday, July 27th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Monday, July 27th.

Analyst Ratings Changes

LPG has been the topic of several research reports. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 25th. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Jefferies Financial Group boosted their price target on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings raised Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Insider Transactions at Dorian LPG

In other Dorian LPG news, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the sale, the director directly owned 66,348 shares of the company’s stock, valued at approximately $2,989,640.88. The trade was a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tim Truels Hansen sold 20,000 shares of Dorian LPG 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 sale, the insider directly owned 157,842 shares in the company, valued at $5,584,449.96. The trade was 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 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.