Dorian LPG Ltd. (NYSE:LPG) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Dorian LPG received a consensus “Buy” rating from five brokerages, with three buys, one strong buy and one hold. The average 12-month price target is $55.00.
• The company reported strong quarterly results, earning $2.52 per share versus the $2.12 estimate and generating $187.88 million in revenue, up 123.1% year over year. It also paid a special dividend of $1.00 per share.
• Despite increased institutional ownership, insiders sold 126,000 shares worth approximately $6.16 million over the past three months. The stock opened at $56.85, near its 52-week high of $56.93.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report) has been given a consensus recommendation of "Buy" by the five brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $55.00.

A number of analysts have recently weighed in on LPG shares. Wall Street Zen raised shares of Dorian LPG from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 25th. Weiss Ratings reissued a "buy (b-)" rating on shares of Dorian LPG in a report on Tuesday, August 25th. Jefferies Financial Group upped their target price on Dorian LPG from $42.00 to $55.00 and gave the stock a "buy" rating in a research report on Friday, May 22nd. Freedom Capital raised Dorian LPG from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. Finally, Pareto Securities reiterated a "buy" rating on shares of Dorian LPG in a research report on Thursday, May 21st.

Insider Activity

In related news, CFO Theodore Young sold 11,919 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $54.50, for a total value of $649,585.50. Following the completion of the transaction, the chief financial officer owned 107,794 shares in the company, valued at $5,874,773. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction, the insider owned 107,675 shares in the company, valued at $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. In the last three months, insiders have sold 126,000 shares of company stock worth $6,163,449. Corporate insiders own 13.50% of the company's stock.

Institutional Trading of Dorian LPG

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its holdings in Dorian LPG by 117.5% in the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company's stock valued at $6,738,000 after buying an additional 106,428 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Dorian LPG during the 1st quarter valued at $1,247,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Dorian LPG in the 1st quarter valued at $1,491,000. Lazard Asset Management LLC acquired a new position in shares of Dorian LPG in the 1st quarter valued at $2,211,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Dorian LPG by 227.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company's stock valued at $7,247,000 after purchasing an additional 149,787 shares during the period. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Performance

Shares of LPG stock opened at $56.85 on Wednesday. The stock has a fifty day moving average price of $47.30 and a 200 day moving average price of $41.16. The stock has a market cap of $2.43 billion, a PE ratio of 7.53 and a beta of 0.61. Dorian LPG has a 1 year low of $23.76 and a 1 year high of $56.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26.

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

Dorian LPG Announces Dividend

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

Dorian LPG Company Profile

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.

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