Dorian LPG (NYSE:LPG) Shares Gap Up on Better-Than-Expected Earnings

Dorian LPG Ltd. (NYSE:LPG) gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $42.32, but opened at $45.60. Dorian LPG shares last traded at $45.8810, with a volume of 272,542 shares changing hands.

The shipping company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.53. The firm had revenue of $153.27 million for the quarter, compared to analysts’ expectations of $126.25 million. Dorian LPG had a net margin of 29.88% and a return on equity of 11.82%. The business’s revenue for the quarter was up 102.0% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, May 18th. Dorian LPG’s payout ratio is 35.21%.

Wall Street Analyst Weigh In

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

Institutional Trading of Dorian LPG

Several hedge funds have recently bought and sold shares of LPG. NewEdge Advisors LLC lifted its stake in Dorian LPG by 1,003.8% in the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after buying an additional 1,315 shares in the last quarter. KBC Group NV bought a new stake in shares of Dorian LPG during the first quarter worth $38,000. EverSource Wealth Advisors LLC increased its position in shares of Dorian LPG by 429.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,652 shares of the shipping company’s stock worth $40,000 after acquiring an additional 1,340 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Dorian LPG during the third quarter worth $41,000. Finally, Sunbelt Securities Inc. bought a new stake in Dorian LPG in the 3rd quarter valued at $41,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Dorian LPG Stock Up 8.6%

The firm has a market capitalization of $1.96 billion, a P/E ratio of 16.16 and a beta of 0.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.40 and a current ratio of 2.41. The firm’s 50-day moving average is $35.87 and its 200 day moving average is $30.99.

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.