Dorian LPG (NYSE:LPG) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Dorian LPG (NYSE:LPG - Get Free Report) announced its quarterly earnings results on Thursday. The shipping company reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.08, Zacks reports. Dorian LPG had a net margin of 38.51% and a return on equity of 15.14%. The business's revenue for the quarter was down 46.3% compared to the same quarter last year. During the same period last year, the company posted $1.91 EPS.

Dorian LPG Price Performance

Shares of LPG stock traded down $1.87 during trading on Thursday, hitting $20.80. The company had a trading volume of 280,329 shares, compared to its average volume of 716,951. The firm has a market capitalization of $890.11 million, a P/E ratio of 5.26 and a beta of 0.71. Dorian LPG has a one year low of $16.66 and a one year high of $51.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.95 and a current ratio of 3.97. The stock's 50-day moving average price is $21.49 and its 200 day moving average price is $23.15.

Dorian LPG Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 13.5%. Dorian LPG's payout ratio is 25.45%.

Insiders Place Their Bets

In other news, CEO John C. Hadjipateras acquired 12,500 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $17.75 per share, with a total value of $221,875.00. Following the completion of the transaction, the chief executive officer now directly owns 1,824,386 shares of the company's stock, valued at $32,382,851.50. This trade represents a 0.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.40% of the company's stock.

Hedge Funds Weigh In On Dorian LPG

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Dorian LPG by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company's stock worth $483,000 after acquiring an additional 914 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company's stock valued at $32,000 after purchasing an additional 1,315 shares in the last quarter. 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 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company's stock valued at $3,977,000 after purchasing an additional 59,311 shares during the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Dorian LPG by 130.6% during the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company's stock worth $2,990,000 after buying an additional 75,818 shares in the last quarter. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LPG. Jefferies Financial Group restated a "buy" rating and issued a $35.00 price target on shares of Dorian LPG in a research note on Friday, January 31st. Pareto Securities raised shares of Dorian LPG to a "buy" rating in a research report on Tuesday, February 4th.

Dorian LPG Company Profile

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers. The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.

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