Dorian LPG (NYSE:LPG) Upgraded by DNB Markets to “Buy”

DNB Markets upgraded shares of Dorian LPG (NYSE:LPG) from a hold rating to a buy rating in a research report report published on Wednesday, MarketBeat.com reports. DNB Markets currently has $52.00 price objective on the shipping company’s stock.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of Dorian LPG from a buy rating to a hold rating in a research note on Thursday, May 2nd. Jefferies Financial Group boosted their price target on shares of Dorian LPG from $46.00 to $50.00 and gave the company a buy rating in a research report on Wednesday, May 22nd.

Dorian LPG Stock Performance

LPG opened at $43.53 on Wednesday. The stock has a market cap of $1.77 billion, a PE ratio of 5.73 and a beta of 0.97. Dorian LPG has a 1 year low of $24.17 and a 1 year high of $51.66. The stock’s 50 day simple moving average is $44.07 and its 200-day simple moving average is $41.18. The company has a current ratio of 3.62, a quick ratio of 3.60 and a debt-to-equity ratio of 0.54.

Dorian LPG (NYSE:LPG) last announced its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. Dorian LPG had a net margin of 54.83% and a return on equity of 32.22%. The firm had revenue of $141.40 million for the quarter, compared to analyst estimates of $144.25 million. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Dorian LPG will post 6.07 EPS for the current year.

Dorian LPG Dividend Announcement

The firm also recently announced a None dividend, which was paid on Thursday, May 30th. Stockholders of record on Wednesday, May 8th were paid a $1.00 dividend. The ex-dividend date was Tuesday, May 7th. Dorian LPG’s dividend payout ratio (DPR) is presently 26.32%.

Hedge Funds Weigh In On Dorian LPG

A number of institutional investors have recently modified their holdings of LPG. Beacon Capital Management LLC bought a new stake in shares of Dorian LPG during the first quarter valued at approximately $27,000. Fifth Third Bancorp boosted its position in Dorian LPG by 317.7% in the 4th quarter. Fifth Third Bancorp now owns 685 shares of the shipping company’s stock valued at $30,000 after buying an additional 521 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Dorian LPG by 178.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 820 shares of the shipping company’s stock valued at $36,000 after buying an additional 525 shares during the period. Planned Solutions Inc. bought a new stake in shares of Dorian LPG during the fourth quarter worth $44,000. Finally, GAMMA Investing LLC lifted its stake in shares of Dorian LPG by 60.3% during the second quarter. GAMMA Investing LLC now owns 1,050 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 395 shares during the period. 62.50% of the stock is owned by institutional investors.

About Dorian LPG

Dorian LPG Ltd., together with its subsidiaries, engages in the transportation of liquefied petroleum gas (LPG) through its LPG tankers worldwide. It owns and operates twenty-five very large gas carriers (VLGCs). The company was incorporated in 2013 and is headquartered in Stamford, Connecticut.