BW LPG (NYSE:BWLP) Hits New 12-Month High on Analyst Upgrade

Key Points

• Shares hit a new 52-week high after Kepler Capital Markets upgraded BW LPG to a buy; the stock traded as high as $19.63 (last $19.616) and was up about 3.9%, though analyst coverage remains mixed (two Buys, one Hold, one Sell; average rating: Hold).
• BW LPG reported quarterly EPS of $0.69 versus $0.60 expected and revenue of $732.4 million versus a $217.2 million consensus, delivering a clear beat on both measures.
• The company raised its quarterly dividend to $0.5652 (annualized $2.26), representing a 11.6% yield—up from $0.40—but the dividend payout ratio is a high 142.5%.

BW LPG Limited (NYSE:BWLP - Get Free Report) shares reached a new 52-week high during trading on Tuesday after Kepler Capital Markets upgraded the stock from a hold rating to a buy rating. The stock traded as high as $19.63 and last traded at $19.6160, with a volume of 23792 shares trading hands. The stock had previously closed at $18.78.

A number of other equities analysts also recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of BW LPG in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of BW LPG from a "hold" rating to a "buy" rating in a report on Saturday, April 4th. Finally, Dnb Carnegie downgraded shares of BW LPG from a "hold" rating to a "strong sell" rating in a research note on Wednesday, March 11th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BW LPG presently has an average rating of "Hold".

Institutional Trading of BW LPG

A number of hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new stake in shares of BW LPG in the first quarter worth $290,000. Pictet Asset Management Holding SA boosted its stake in BW LPG by 15.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 21,183 shares of the company's stock valued at $372,000 after acquiring an additional 2,871 shares during the last quarter. Blue Trust Inc. acquired a new position in BW LPG during the 1st quarter worth $65,000. Fearnley Asset Management AS bought a new stake in shares of BW LPG in the 4th quarter worth about $5,388,000. Finally, Invesco Ltd. increased its position in shares of BW LPG by 4.3% in the 4th quarter. Invesco Ltd. now owns 26,172 shares of the company's stock worth $343,000 after purchasing an additional 1,076 shares during the last quarter.

BW LPG Trading Up 3.9%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.24 and a current ratio of 1.53. The business's 50 day moving average price is $17.21 and its 200-day moving average price is $14.78. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 12.23 and a beta of 1.80.

BW LPG (NYSE:BWLP - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.09. BW LPG had a return on equity of 12.61% and a net margin of 6.76%.The business had revenue of $732.40 million during the quarter, compared to the consensus estimate of $217.18 million.

BW LPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Investors of record on Friday, March 13th were given a dividend of $0.5652 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $2.26 annualized dividend and a dividend yield of 11.6%. This is an increase from BW LPG's previous quarterly dividend of $0.40. BW LPG's dividend payout ratio is currently 142.50%.

About BW LPG

BW LPG NYSE: BWLP is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company's core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.

Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.

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