Bank of America Corp DE Makes New Investment in BW LPG Limited $BWLP

Key Points

• Bank of America purchased 356,756 BW LPG shares worth approximately $6.2 million during the second quarter, giving it a 0.24% stake. Several other institutional investors also initiated or increased positions.
• Analyst sentiment is favorable, with four Buy ratings and one Hold rating resulting in a consensus “Moderate Buy” recommendation.
• BW LPG reported quarterly EPS of $0.79, below the $1.17 consensus estimate, while increasing its quarterly dividend to NOK 8.89 per share. The stock opened at $24.19 and remains near its 52-week high.

Bank of America Corp DE purchased a new stake in shares of BW LPG Limited (NYSE:BWLP - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 356,756 shares of the company's stock, valued at approximately $6,218,000. Bank of America Corp DE owned 0.24% of BW LPG as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of BWLP. Pictet Asset Management Holding SA grew its holdings in BW LPG by 15.7% during the first quarter. Pictet Asset Management Holding SA now owns 21,183 shares of the company's stock worth $372,000 after acquiring an additional 2,871 shares during the period. Pinnacle Holdings LLC bought a new stake in shares of BW LPG in the 2nd quarter worth approximately $52,000. Global Retirement Partners LLC acquired a new stake in BW LPG during the second quarter valued at approximately $57,000. Blue Trust Inc. acquired a new stake in BW LPG during the first quarter valued at approximately $65,000. Finally, Quantbot Technologies LP bought a new stake in BW LPG during the second quarter worth approximately $81,000.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BWLP shares. Pareto Securities upgraded shares of BW LPG from a "hold" rating to a "buy" rating in a research report on Thursday, September 10th. Clarkson Capital upgraded BW LPG from a "neutral" rating to a "buy" rating in a research report on Thursday, August 20th. Weiss Ratings upgraded BW LPG from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered BW LPG from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

BW LPG Trading Down 0.2%

BW LPG stock opened at $24.19 on Monday. BW LPG Limited has a 52 week low of $11.72 and a 52 week high of $26.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.18 and a current ratio of 1.44. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 8.23 and a beta of 0.99. The company has a 50 day moving average price of $23.37 and a 200 day moving average price of $20.47.

BW LPG (NYSE:BWLP - Get Free Report) last announced its earnings results on Saturday, August 29th. The company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.38). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $318.01 million. BW LPG had a net margin of 12.64% and a return on equity of 22.48%.

BW LPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Tuesday, September 8th were given a dividend of NOK 8.89 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This is a positive change from BW LPG's previous quarterly dividend of NOK 6.20. This represents a $35.57 annualized dividend and a yield of 147.0%. BW LPG's payout ratio is presently 129.25%.

BW LPG Company Profile

BW LPG Limited NYSE: BWLP is a Singapore-based maritime company that owns and operates very large gas carriers (VLGCs) used to transport liquefied petroleum gas (LPG), primarily propane and butane. The company provides seaborne transportation services to energy producers, commodity traders, and other customers involved in the global LPG supply chain.

BW LPG's activities include vessel ownership, ship management, commercial operation, and fleet optimization. Its ships transport LPG on international trade routes connecting major exporting regions, including the Middle East and the United States, with import markets in Asia, Europe, and other parts of the world.

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