Dorian LPG (NYSE:LPG) Sets New 52-Week High on Analyst Upgrade

Dorian LPG Ltd. (NYSE:LPG)’s share price reached a new 52-week high on Monday after Dnb Carnegie upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $41.92 and last traded at $42.0150, with a volume of 113842 shares changing hands. The stock had previously closed at $40.87.

LPG has been the subject of a number of other reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorian LPG in a research note on Wednesday, April 22nd. Wall Street Zen lowered shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research note on Sunday, February 22nd. Finally, Jefferies Financial Group started coverage on shares of Dorian LPG in a research note on Friday, April 24th. They issued a “buy” rating and a $42.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $42.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Arete Wealth Advisors LLC bought a new position in Dorian LPG in the 1st quarter valued at $683,000. Amundi bought a new position in Dorian LPG in the 1st quarter valued at $465,000. California State Teachers Retirement System boosted its holdings in Dorian LPG by 36.2% in the 1st quarter. California State Teachers Retirement System now owns 51,933 shares of the shipping company’s stock valued at $1,776,000 after purchasing an additional 13,800 shares during the period. Empowered Funds LLC boosted its holdings in 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 period. Finally, Lazard Asset Management LLC bought a new position in Dorian LPG in the 1st quarter valued at $2,211,000. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Performance

The company’s fifty day simple moving average is $35.87 and its 200 day simple moving average 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 stock has a market capitalization of $1.81 billion, a P/E ratio of 14.93 and a beta of 0.63.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $126.25 million.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Stockholders 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 payout ratio is currently 35.21%.

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.