Dorian LPG (NYSE:LPG) Sets New 52-Week High – Still a Buy?

Shares of Dorian LPG Ltd. (NYSE:LPG) hit a new 52-week high during trading on Wednesday . The company traded as high as $52.11 and last traded at $52.01, with a volume of 311208 shares. The stock had previously closed at $50.86.

Wall Street Analysts Forecast Growth

LPG has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Dorian LPG in a research report on Tuesday, August 25th. Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Freedom Capital raised Dorian LPG from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Jefferies Financial Group raised their price objective on Dorian LPG from $42.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Pareto Securities restated a “buy” rating on shares of Dorian LPG in a report on Thursday, May 21st. One investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Dorian LPG Price Performance

The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 6.91 and a beta of 0.62. The company has a 50 day simple moving average of $43.74 and a 200-day simple moving average of $39.75. The company has a quick ratio of 3.24, a current ratio of 3.26 and a debt-to-equity ratio of 0.28.

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

Dorian LPG Announces Dividend

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

Insider Activity

In other news, insider Tim Truels Hansen sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $45.04, for a total value of $1,126,000.00. Following the transaction, the insider directly owned 157,675 shares in the company, valued at approximately $7,101,682. This trade represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Dorian LPG

Several institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Dorian LPG by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock worth $483,000 after purchasing an additional 914 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Dorian LPG by 1,003.8% during the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock worth $32,000 after buying an additional 1,315 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Dorian LPG by 50.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock worth $3,977,000 after buying an additional 59,311 shares in the last quarter. Jane Street Group LLC increased its position in Dorian LPG by 130.6% in the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock valued at $2,990,000 after acquiring an additional 75,818 shares during the period. Finally, Cetera Investment Advisers raised its stake in Dorian LPG by 12.7% during the 2nd quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock valued at $332,000 after acquiring an additional 1,539 shares in the last quarter. 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.