Dorian LPG Ltd. $LPG Shares Sold by LPL Financial LLC

Key Points

• LPL Financial LLC reduced its stake in Dorian LPG Ltd. by 28.1%, selling over 32,000 shares in the first quarter, leaving them with approximately 82,506 shares valued at $1.84 million.
• Dorian LPG reported a quarterly earnings miss with earnings per share of $0.27, below the analysts' consensus estimate of $0.61, and experienced a 26.3% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.60, resulting in an annualized dividend of $2.40, which reflects a yield of 7.9%.

LPL Financial LLC decreased its position in Dorian LPG Ltd. (NYSE:LPG - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,506 shares of the shipping company's stock after selling 32,208 shares during the period. LPL Financial LLC owned approximately 0.19% of Dorian LPG worth $1,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LPG. Wells Fargo & Company MN grew its position in Dorian LPG by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,270 shares of the shipping company's stock worth $738,000 after purchasing an additional 6,489 shares during the last quarter. Russell Investments Group Ltd. grew its position in Dorian LPG by 3.1% in the 4th quarter. Russell Investments Group Ltd. now owns 21,911 shares of the shipping company's stock worth $534,000 after purchasing an additional 657 shares during the last quarter. Legal & General Group Plc grew its position in Dorian LPG by 1.8% in the 4th quarter. Legal & General Group Plc now owns 97,000 shares of the shipping company's stock worth $2,364,000 after purchasing an additional 1,674 shares during the last quarter. Raymond James Financial Inc. bought a new position in Dorian LPG in the 4th quarter worth about $698,000. Finally, Townsquare Capital LLC bought a new position in Dorian LPG in the 4th quarter worth about $228,000. Institutional investors own 62.50% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Wall Street Zen raised shares of Dorian LPG from a "sell" rating to a "hold" rating in a research note on Sunday, June 1st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $35.00.

Dorian LPG Price Performance

LPG stock traded up $0.11 on Tuesday, hitting $31.84. 490,427 shares of the company's stock traded hands, compared to its average volume of 633,749. Dorian LPG Ltd. has a 1-year low of $16.66 and a 1-year high of $39.14. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 27.69 and a beta of 0.77. The stock has a fifty day moving average of $28.34 and a 200-day moving average of $24.03. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47.

Dorian LPG (NYSE:LPG - Get Free Report) last released its earnings results on Friday, August 1st. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.34). Dorian LPG had a net margin of 15.15% and a return on equity of 5.24%. The business had revenue of $84.21 million for the quarter, compared to analyst estimates of $86.53 million. During the same period in the prior year, the company earned $1.26 earnings per share. The firm's revenue for the quarter was down 26.3% on a year-over-year basis. On average, analysts forecast that Dorian LPG Ltd. will post 2.6 EPS for the current fiscal year.

Dorian LPG Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 7.5%.

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.