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

Shares of Dorian LPG Ltd. (NYSE:LPG) reached a new 52-week high during trading on Wednesday . The stock traded as high as $52.11 and last traded at $52.01, with a volume of 311208 shares trading hands. The stock had previously closed at $50.86.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LPG shares. Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. Jefferies Financial Group upped their target price on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Finally, Dnb Carnegie raised shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, three have issued 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 an average target price of $55.00.

Dorian LPG Stock Up 2.9%

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 firm has a market cap of $2.29 billion, a PE ratio of 7.10 and a beta of 0.61. The business has a fifty day moving average price of $44.32 and a two-hundred day moving average price of $40.03.

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

Dorian LPG Dividend Announcement

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

Insiders Place Their Bets

In other Dorian LPG news, insider Tim Hansen sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $45.04, for a total value of $1,126,000.00. Following the completion of the sale, the insider owned 157,675 shares in the company, valued at $7,101,682. This represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LPG. Public Employees Retirement System of Ohio bought a new stake in shares of Dorian LPG in the 2nd quarter valued at approximately $37,000. KBC Group NV bought a new position in Dorian LPG during the first quarter valued at approximately $38,000. Sunbelt Securities Inc. acquired a new position in shares of Dorian LPG during the 3rd quarter worth $41,000. NewEdge Advisors LLC raised its holdings in shares of Dorian LPG by 1,003.8% during the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Dorian LPG by 429.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 1,340 shares in the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

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.