Hafnia (NYSE:HAFN) Hits New 12-Month High - Still a Buy?

Key Points

• Hafnia shares reached a new 52-week high of $9.59 and were recently trading around $9.54, up from a previous close of $9.36. The stock has a market capitalization of approximately $4.85 billion and trades at a P/E ratio of 7.16.
• Hafnia exceeded quarterly earnings expectations, reporting $0.56 EPS versus the $0.54 consensus and revenue of $834.53 million. Analysts collectively rate the stock “Moderate Buy,” although three analysts maintain Hold ratings.
• The company raised its quarterly dividend to $0.5003 per share, implying an annualized dividend of $2.00 and a 21.2% yield. However, its payout ratio is elevated at 151.52%, which may raise questions about dividend sustainability.

Hafnia Limited (NYSE:HAFN - Get Free Report) shares reached a new 52-week high on Friday . The stock traded as high as $9.59 and last traded at $9.5360, with a volume of 1151659 shares traded. The stock had previously closed at $9.36.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HAFN. Weiss Ratings upgraded Hafnia from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. Pareto Securities downgraded Hafnia to a "hold" rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen upgraded Hafnia from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 30th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Hafnia Trading Up 1.0%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.49 and a current ratio of 1.66. The company has a market capitalization of $4.85 billion, a PE ratio of 7.16 and a beta of 0.65. The stock has a fifty day moving average of $7.84 and a 200 day moving average of $7.82.

Hafnia (NYSE:HAFN - Get Free Report) last announced its quarterly earnings data on Saturday, August 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.02. Hafnia had a net margin of 56.72% and a return on equity of 26.74%. The business had revenue of $834.53 million during the quarter, compared to analyst estimates of $394.57 million.

Hafnia Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be issued a dividend of $0.5003 per share. This is a boost from Hafnia's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 21.2%. Hafnia's payout ratio is currently 151.52%.

Institutional Investors Weigh In On Hafnia

A number of hedge funds have recently made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Hafnia by 82.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 431,462 shares of the company's stock worth $1,795,000 after acquiring an additional 194,751 shares during the last quarter. Jane Street Group LLC raised its stake in Hafnia by 241.6% during the first quarter. Jane Street Group LLC now owns 815,341 shares of the company's stock valued at $3,392,000 after purchasing an additional 576,629 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Hafnia by 26.8% during the second quarter. JPMorgan Chase & Co. now owns 233,532 shares of the company's stock valued at $1,165,000 after purchasing an additional 49,409 shares during the last quarter. First Trust Advisors LP raised its position in shares of Hafnia by 138.5% during the 2nd quarter. First Trust Advisors LP now owns 144,871 shares of the company's stock valued at $725,000 after buying an additional 84,140 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in Hafnia during the second quarter worth approximately $131,000.

About Hafnia

Hafnia Limited is a global maritime transportation company focused on the ownership and operation of product tankers. The company transports refined petroleum products, chemicals, and vegetable and animal oils for energy companies, commodity traders, and industrial customers.

Its activities include commercial management, chartering, vessel operations, and technical management. Hafnia operates across major international shipping routes and serves customers in key energy and commodity markets worldwide.

Hafnia is headquartered in Singapore and is part of the BW Group.

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