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

Dorian LPG Ltd. (NYSE:LPG)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $56.00 and last traded at $55.5010, with a volume of 597 shares trading hands. The stock had previously closed at $55.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Freedom Capital upgraded shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Finally, Wall Street Zen upgraded shares of Dorian LPG from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dorian LPG presently has an average rating of “Buy” and a consensus price target of $55.00.

Dorian LPG Trading Down 0.7%

The company’s 50 day moving average price is $46.59 and its 200 day moving average price is $40.87. 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 $2.34 billion, a PE ratio of 7.32 and a beta of 0.61.

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

Dorian LPG Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th were paid a $1.00 dividend. The ex-dividend date was Monday, July 27th.

Insider Transactions at Dorian LPG

In other news, COO Alexander Hadjipateras sold 5,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $54.13, for a total value of $270,650.00. Following the sale, the chief operating officer directly owned 95,836 shares in the company, valued at approximately $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tim Hansen sold 50,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $53.12, for a total value of $2,656,000.00. Following the completion of the sale, the insider owned 107,675 shares in the company, valued at approximately $5,719,696. The trade was a 31.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 126,000 shares of company stock valued at $6,163,449. 13.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dorian LPG

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of Dorian LPG by 3,299.8% in the 2nd quarter. California State Teachers Retirement System now owns 1,765,641 shares of the shipping company’s stock valued at $61,409,000 after buying an additional 1,713,708 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Dorian LPG in the first quarter valued at approximately $11,929,000. AQR Capital Management LLC raised its holdings in Dorian LPG by 236.7% in the second quarter. AQR Capital Management LLC now owns 425,478 shares of the shipping company’s stock valued at $10,373,000 after acquiring an additional 299,107 shares in the last quarter. Bank of America Corp DE lifted its stake in Dorian LPG by 136.2% in the second quarter. Bank of America Corp DE now owns 368,986 shares of the shipping company’s stock worth $8,996,000 after acquiring an additional 212,787 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Dorian LPG by 12.4% during the 4th quarter. Vanguard Group Inc. now owns 1,874,907 shares of the shipping company’s stock worth $45,635,000 after acquiring an additional 207,575 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About Dorian LPG

Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates very large gas carriers (VLGCs). The company primarily transports liquefied petroleum gas (LPG), including propane and butane, for energy producers, commodity traders and other customers in international markets.

Dorian LPG’s fleet is designed for the ocean transportation of LPG between major exporting and importing regions. Its vessels support global trade routes linking LPG-producing areas, including the United States and the Middle East, with demand centers in Asia, Europe and other regions.