Dorian LPG Ltd. (NYSE:LPG) Announces Special Dividend of $1.00

Dorian LPG Ltd. (NYSE:LPG) announced a special dividend on Thursday, July 16th. Stockholders of record on Monday, July 27th will be paid a dividend of 1.00 per share by the shipping company on Wednesday, August 12th. The ex-dividend date of this dividend is Monday, July 27th.

Dorian LPG has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings.

Dorian LPG Price Performance

NYSE:LPG traded down $0.83 during trading hours on Thursday, reaching $41.20. 480,862 shares of the company’s stock were exchanged, compared to its average volume of 609,500. The company has a market capitalization of $1.76 billion, a P/E ratio of 9.05 and a beta of 0.66. Dorian LPG has a 12 month low of $23.76 and a 12 month high of $48.12. The company has a quick ratio of 2.65, a current ratio of 2.67 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $40.85 and its two-hundred day simple moving average is $35.38.

Dorian LPG (NYSE:LPG) last posted its quarterly earnings data on Tuesday, May 19th. The shipping company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.48. The firm had revenue of $153.27 million for the quarter, compared to analysts’ expectations of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The company’s quarterly revenue was up 102.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on LPG shares. Dnb Carnegie raised Dorian LPG from a “strong sell” rating to a “hold” rating in a research note on Monday, May 18th. Freedom Capital lowered shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 22nd. Pareto Securities reissued a “buy” rating on shares of Dorian LPG in a research report on Thursday, May 21st. Jefferies Financial Group increased their price target on shares of Dorian LPG from $42.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings upgraded shares of Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dorian LPG currently has an average rating of “Moderate Buy” and an average price target of $55.00.

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.