Dorian LPG (NYSE:LPG) Hits New 12-Month High Following Analyst Upgrade

Dorian LPG Ltd. (NYSE:LPG)’s stock price hit a new 52-week high during trading on Monday after Dnb Carnegie upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $41.92 and last traded at $42.0150, with a volume of 113842 shares traded. The stock had previously closed at $40.87.

A number of other research firms have also recently issued reports on LPG. Jefferies Financial Group assumed coverage on shares of Dorian LPG in a research report on Friday, April 24th. They issued a “buy” rating and a $42.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Dorian LPG in a research report on Wednesday, April 22nd. Finally, Wall Street Zen cut shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Dorian LPG currently has an average rating of “Hold” and a consensus target price of $42.00.

Institutional Investors Weigh In On Dorian LPG

A number of hedge funds and other institutional investors have recently bought and sold shares of LPG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Dorian LPG by 4.4% in 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 raised its position 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 worth $32,000 after acquiring an additional 1,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Dorian LPG by 50.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock worth $3,977,000 after purchasing an additional 59,311 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Dorian LPG by 130.6% in the first quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock worth $2,990,000 after purchasing an additional 75,818 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in Dorian LPG by 12.7% during the second quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock valued at $332,000 after acquiring an additional 1,539 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Dorian LPG Stock Up 1.2%

The firm has a market capitalization of $1.81 billion, a PE ratio of 14.93 and a beta of 0.63. The business’s 50 day simple moving average is $35.87 and its 200 day simple moving average is $30.99. 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 (NYSE:LPG) last issued its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.53. The business had revenue of $153.27 million during 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%.

Dorian LPG Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, May 18th. Dorian LPG’s dividend payout ratio (DPR) is 35.21%.

About Dorian LPG

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.