Dorian LPG (NYSE:LPG) Rating Increased to Strong-Buy at Freedom Capital

Freedom Capital upgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a strong-buy rating in a report released on Thursday,Zacks.com reports.

A number of other brokerages have also commented on LPG. Pareto Securities reiterated a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Weiss Ratings raised Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group lifted their target price on Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 22nd. One equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Dorian LPG Stock Up 2.6%

Shares of NYSE LPG opened at $45.53 on Thursday. The company has a 50 day simple moving average of $41.45 and a 200 day simple moving average of $37.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 2.65. Dorian LPG has a 1 year low of $23.76 and a 1 year high of $48.12. The firm has a market cap of $1.95 billion, a PE ratio of 6.03 and a beta of 0.65.

Dorian LPG (NYSE:LPG) last posted its earnings results on Wednesday, August 5th. The shipping company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.40. Dorian LPG had a net margin of 55.00% and a return on equity of 25.69%. The firm had revenue of $187.88 million for the quarter, compared to analyst estimates of $160.78 million. During the same period in the previous year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 123.1% compared to the same quarter last year.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Monday, July 27th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, July 27th. Dorian LPG’s dividend payout ratio is 13.25%.

Insider Activity

In related news, insider Tim Truels Hansen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total transaction of $707,600.00. Following the transaction, the insider directly owned 157,842 shares of the company’s stock, valued at approximately $5,584,449.96. This represents a 11.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted Kalborg sold 15,373 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total value of $692,707.38. Following the transaction, the director directly owned 66,348 shares in the company, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Dorian LPG by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock worth $483,000 after purchasing an additional 914 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after purchasing an additional 1,315 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Dorian LPG by 50.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock valued at $3,977,000 after purchasing an additional 59,311 shares during the period. Jane Street Group LLC grew its position in Dorian LPG by 130.6% in the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock valued at $2,990,000 after purchasing an additional 75,818 shares during the period. Finally, Cetera Investment Advisers increased its stake in Dorian LPG by 12.7% during the 2nd quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock valued at $332,000 after purchasing an additional 1,539 shares in the last quarter. Institutional investors 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.