Dorian LPG (NYSE:LPG) Reaches New 12-Month High – Here’s Why

Dorian LPG Ltd. (NYSE:LPG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $55.28 and last traded at $55.1690, with a volume of 614831 shares. The stock had previously closed at $55.20.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. 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 report on Thursday, May 21st. Finally, Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Dorian LPG presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Dorian LPG Stock Down 2.0%

The business’s fifty day moving average price is $45.11 and its two-hundred day moving average price is $40.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The firm has a market capitalization of $2.31 billion, a P/E ratio of 7.31 and a beta of 0.61.

Dorian LPG (NYSE:LPG) last posted its earnings results on Tuesday, August 4th. The shipping company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 123.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, August 12th. Investors of record on Monday, July 27th were paid a dividend of $1.00 per share. The ex-dividend date was Monday, July 27th.

Insider Transactions at Dorian LPG

In related news, insider Tim Hansen sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $45.04, for a total transaction of $1,126,000.00. Following the transaction, the insider directly owned 157,675 shares of the company’s stock, valued at $7,101,682. This represents a 13.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 13.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised its position in shares of Dorian LPG by 117.5% in the 1st quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company’s stock valued at $6,738,000 after purchasing an additional 106,428 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new position in Dorian LPG during the 1st quarter valued at approximately $1,247,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Dorian LPG in the first quarter worth $1,491,000. Lazard Asset Management LLC acquired a new stake in shares of Dorian LPG during the first quarter worth $2,211,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Dorian LPG by 227.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company’s stock valued at $7,247,000 after buying an additional 149,787 shares during the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.