Dorian LPG (NYSE:LPG) Issues Earnings Results

Dorian LPG (NYSE:LPG) released its earnings results on Tuesday. The shipping company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.53, FiscalAI reports. The company had revenue of $153.27 million for the quarter, compared to analyst estimates of $126.25 million. Dorian LPG had a net margin of 29.88% and a return on equity of 11.82%.

Dorian LPG Price Performance

Shares of LPG opened at $42.40 on Wednesday. Dorian LPG has a twelve month low of $20.03 and a twelve month high of $43.09. The firm’s fifty day simple moving average is $35.87 and its 200-day simple moving average is $30.99. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 14.93 and a beta of 0.63. The company has a current ratio of 2.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.38.

Dorian LPG Dividend Announcement

The company 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 $1.00 dividend. The ex-dividend date is Monday, May 18th. Dorian LPG’s dividend payout ratio (DPR) is presently 35.21%.

Institutional Investors Weigh In On Dorian LPG

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Dorian LPG by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,493,668 shares of the shipping company’s stock valued at $74,312,000 after purchasing an additional 13,241 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Dorian LPG by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,667,332 shares of the shipping company’s stock valued at $49,686,000 after buying an additional 41,701 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dorian LPG by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,116,702 shares of the shipping company’s stock valued at $27,184,000 after buying an additional 10,480 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Dorian LPG by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 678,899 shares of the shipping company’s stock valued at $16,524,000 after buying an additional 23,974 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Dorian LPG by 55.8% in the 3rd quarter. Millennium Management LLC now owns 572,315 shares of the shipping company’s stock valued at $17,055,000 after buying an additional 204,861 shares during the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dorian LPG in a report on Wednesday, April 22nd. Jefferies Financial Group assumed coverage on shares of Dorian LPG in a report on Friday, April 24th. They set a “buy” rating and a $42.00 target price on the stock. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Wall Street Zen lowered shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.00.

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.