LPL Financial LLC Has $1.84 Million Position in Dorian LPG Ltd. $LPG

LPL Financial LLC cut its holdings in Dorian LPG Ltd. (NYSE:LPG) by 28.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,506 shares of the shipping company’s stock after selling 32,208 shares during the period. LPL Financial LLC’s holdings in Dorian LPG were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LPG. Bridgeway Capital Management LLC raised its stake in Dorian LPG by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 449,109 shares of the shipping company’s stock worth $10,945,000 after buying an additional 11,550 shares during the period. Northern Trust Corp grew its holdings in shares of Dorian LPG by 20.1% in the fourth quarter. Northern Trust Corp now owns 418,569 shares of the shipping company’s stock valued at $10,201,000 after acquiring an additional 70,046 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of Dorian LPG by 9.1% in the fourth quarter. Focus Partners Wealth now owns 248,650 shares of the shipping company’s stock valued at $6,060,000 after acquiring an additional 20,830 shares in the last quarter. Sparta 24 Ltd. bought a new position in Dorian LPG during the first quarter valued at $5,036,000. Finally, Principal Financial Group Inc. grew its holdings in Dorian LPG by 2.4% during the first quarter. Principal Financial Group Inc. now owns 213,052 shares of the shipping company’s stock valued at $4,760,000 after purchasing an additional 5,025 shares during the period. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Up 1.4%

NYSE LPG opened at $30.5440 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.32 and a quick ratio of 3.30. The stock has a market capitalization of $1.30 billion, a PE ratio of 26.56 and a beta of 0.77. Dorian LPG Ltd. has a 1 year low of $16.66 and a 1 year high of $39.35. The business’s 50-day moving average is $27.79 and its 200 day moving average is $23.82.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings data on Friday, August 1st. The shipping company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.34). Dorian LPG had a return on equity of 5.24% and a net margin of 15.15%.The company had revenue of $84.21 million during the quarter, compared to analysts’ expectations of $86.53 million. During the same quarter last year, the business earned $1.26 earnings per share. The business’s quarterly revenue was down 26.3% on a year-over-year basis. Sell-side analysts forecast that Dorian LPG Ltd. will post 2.6 earnings per share for the current year.

Dorian LPG Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 7.9%.

Analysts Set New Price Targets

Several research firms have issued reports on LPG. Wall Street Zen upgraded Dorian LPG from a “sell” rating to a “hold” rating in a research report on Sunday, June 1st. Jefferies Financial Group increased their target price on Dorian LPG from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Dorian LPG has an average rating of “Buy” and an average target price of $35.00.

Dorian LPG Company Profile

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