Dorian LPG Ltd. $LPG Shares Acquired by Empowered Funds LLC

Key Points

• Institutional investors increased their exposure to Dorian LPG: Empowered Funds more than doubled its stake to 197,030 shares, while other funds also initiated or expanded positions. Institutions now own 62.5% of the company.
• Analyst sentiment is favorable: Dorian LPG has a consensus rating of “Moderate Buy” and a $55 price target, with several analysts recently upgrading the stock.
• Strong financial performance supported the stock: Quarterly EPS of $2.52 and revenue of $187.88 million exceeded estimates, while revenue rose 123.1% year over year. The company also paid a special $1.00-per-share dividend, although insiders have recently sold shares.

Empowered Funds LLC lifted its position in shares of Dorian LPG Ltd. (NYSE:LPG - Free Report) by 117.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 197,030 shares of the shipping company's stock after purchasing an additional 106,428 shares during the quarter. Empowered Funds LLC owned about 0.46% of Dorian LPG worth $6,738,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in Dorian LPG by 227.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 215,568 shares of the shipping company's stock worth $7,247,000 after buying an additional 149,787 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Dorian LPG in the first quarter worth $1,491,000. Segall Bryant & Hamill LLC purchased a new position in shares of Dorian LPG in the 1st quarter valued at $1,247,000. Persistent Asset Partners Ltd purchased a new position in shares of Dorian LPG in the 4th quarter valued at $1,098,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Dorian LPG during the 1st quarter valued at $2,211,000. Institutional investors and hedge funds own 62.50% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LPG shares. Freedom Capital raised shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Dorian LPG from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. Dnb Carnegie raised Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. Wall Street Zen raised Dorian LPG from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 25th. Finally, Jefferies Financial Group increased their target price on Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Insider Buying and Selling

In other news, insider Tim Truels Hansen sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $45.04, for a total transaction of $1,126,000.00. Following the completion of the sale, the insider owned 157,675 shares of the company's stock, valued at approximately $7,101,682. This trade represents a 13.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ted Kalborg sold 15,373 shares of Dorian LPG stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the completion of the sale, the director owned 66,348 shares of the company's stock, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,373 shares of company stock valued at $2,526,307 in the last three months. Corporate insiders own 13.50% of the company's stock.

Dorian LPG Trading Up 3.6%

NYSE:LPG opened at $47.26 on Friday. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 6.26 and a beta of 0.65. Dorian LPG Ltd. has a one year low of $23.76 and a one year high of $48.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 3.24 and a current ratio of 3.26. The business's 50-day simple moving average is $41.85 and its 200 day simple moving average is $38.03.

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

Dorian LPG Dividend Announcement

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

Dorian LPG Company Profile

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.

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