Texas Permanent School Fund Corp Cuts Stake in Dorian LPG Ltd. $LPG

Texas Permanent School Fund Corp lessened its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 49.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,238 shares of the shipping company’s stock after selling 28,099 shares during the period. Texas Permanent School Fund Corp owned 0.07% of Dorian LPG worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Dorian LPG by 75.4% during the 1st quarter. HighTower Advisors LLC now owns 26,288 shares of the shipping company’s stock worth $587,000 after buying an additional 11,304 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Dorian LPG in the first quarter worth approximately $1,624,000. Vident Advisory LLC increased its position in shares of Dorian LPG by 7.7% during the first quarter. Vident Advisory LLC now owns 22,943 shares of the shipping company’s stock worth $513,000 after purchasing an additional 1,640 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Dorian LPG in the 1st quarter valued at $1,660,000. Finally, Cubist Systematic Strategies LLC raised its stake in Dorian LPG by 40.1% in the 1st quarter. Cubist Systematic Strategies LLC now owns 67,681 shares of the shipping company’s stock valued at $1,512,000 after purchasing an additional 19,359 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Trading Up 0.7%

Shares of LPG opened at $24.14 on Friday. Dorian LPG Ltd. has a 12-month low of $16.66 and a 12-month high of $32.79. The firm has a market capitalization of $1.03 billion, a P/E ratio of 10.83 and a beta of 0.60. The firm has a 50-day moving average price of $25.99 and a 200 day moving average price of $27.79. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.44.

Dorian LPG (NYSE:LPG) last posted its earnings results on Wednesday, November 5th. The shipping company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.40 by ($0.09). Dorian LPG had a net margin of 26.02% and a return on equity of 9.13%. The firm had revenue of $124.06 million during the quarter, compared to analyst estimates of $126.99 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 50.6% compared to the same quarter last year. Sell-side analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Monday, November 17th were given a $0.65 dividend. The ex-dividend date was Monday, November 17th. This is a positive change from Dorian LPG’s previous quarterly dividend of $0.60. This represents a $2.60 annualized dividend and a yield of 10.8%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LPG. Pareto Securities lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Wall Street Zen downgraded shares of Dorian LPG from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Zacks Research lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dorian LPG in a report on Monday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.00.

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.