Dorian LPG (NYSE:LPG) Reaches New 12-Month High - Here's Why

Key Points

• Dorian LPG shares reached a new 52-week high of $55.28, supported by a consensus “Moderate Buy” rating and an average analyst price target of $55.00.
• The company reported strong quarterly results, with EPS of $2.52 versus the $2.12 consensus and revenue of $187.88 million, up 123.1% year over year.
• Dorian LPG paid a special $1.00-per-share dividend; institutional investors own 62.5% of the stock, while an insider recently sold 25,000 shares.

Dorian LPG Ltd. (NYSE:LPG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $55.28 and last traded at $55.1690, with a volume of 614831 shares trading hands. The stock had previously closed at $55.20.

Analyst Ratings Changes

Several equities analysts have commented on LPG shares. Freedom Capital upgraded shares of Dorian LPG from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Jefferies Financial Group increased their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the company a "buy" rating in a report on Friday, May 22nd. Pareto Securities reaffirmed a "buy" rating on shares of Dorian LPG in a report on Thursday, May 21st. Finally, Dnb Carnegie upgraded Dorian LPG from a "strong sell" rating to a "hold" rating in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Dorian LPG currently has a consensus rating of "Moderate Buy" and an average price target of $55.00.

Dorian LPG Price Performance

The firm has a market cap of $2.31 billion, a P/E ratio of 7.31 and a beta of 0.61. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The stock's 50-day simple moving average is $45.11 and its two-hundred day simple moving average is $40.34.

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

Dorian LPG Dividend Announcement

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

Insider Activity at Dorian LPG

In related news, insider Tim Hansen sold 25,000 shares of the business's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $45.04, for a total transaction of $1,126,000.00. Following the completion of the transaction, the insider owned 157,675 shares in the company, valued at $7,101,682. The trade was a 13.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 13.50% of the company's stock.

Institutional Trading of Dorian LPG

A number of large investors have recently made changes to their positions in LPG. Empowered Funds LLC grew its stake in Dorian LPG by 117.5% in the first quarter. Empowered Funds LLC now owns 197,030 shares of the shipping company's stock worth $6,738,000 after purchasing an additional 106,428 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Dorian LPG in the 1st quarter worth $1,247,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Dorian LPG during the 1st quarter worth $1,491,000. Lazard Asset Management LLC purchased a new position in shares of Dorian LPG during the first quarter valued at $2,211,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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 valued at $7,247,000 after buying an additional 149,787 shares during the period. 62.50% of the stock is owned by hedge funds and other institutional investors.

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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