Dorian LPG (NYSE:LPG) Raised to “Buy” at Wall Street Zen

Dorian LPG (NYSE:LPG) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently commented on LPG. Zacks Research cut shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dorian LPG in a research report on Monday, December 29th. Finally, Pareto Securities cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.00.

Dorian LPG Stock Performance

Shares of LPG stock opened at $24.71 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 11.08 and a beta of 0.59. The stock has a 50-day moving average of $25.64 and a 200-day moving average of $27.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.32 and a quick ratio of 3.30. Dorian LPG has a one year low of $16.66 and a one year high of $32.79.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Wednesday, November 5th. The shipping company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.09). The firm had revenue of $124.06 million for the quarter, compared to analyst estimates of $126.99 million. Dorian LPG had a net margin of 26.02% and a return on equity of 9.13%. The firm’s revenue for the quarter was up 50.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, sell-side analysts expect that Dorian LPG will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Dorian LPG

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC grew its position in shares of Dorian LPG by 616.4% in the 1st quarter. Intech Investment Management LLC now owns 125,142 shares of the shipping company’s stock valued at $2,796,000 after acquiring an additional 107,675 shares during the period. Millennium Management LLC lifted its stake in Dorian LPG by 3,728.9% in the 1st quarter. Millennium Management LLC now owns 997,470 shares of the shipping company’s stock valued at $22,283,000 after purchasing an additional 971,419 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Dorian LPG in the 2nd quarter valued at about $6,438,000. Focus Partners Wealth grew its holdings in Dorian LPG by 18.3% during the first quarter. Focus Partners Wealth now owns 294,240 shares of the shipping company’s stock worth $6,573,000 after purchasing an additional 45,590 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Dorian LPG during the second quarter worth about $465,000. Institutional investors and hedge funds own 62.50% of the company’s stock.

About Dorian LPG

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.