Dorian LPG’s (LPG) “Buy” Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Dorian LPG (NYSE:LPG) in a research report report published on Thursday, Benzinga reports. Jefferies Financial Group currently has a $42.00 price target on the shipping company’s stock.

Separately, DNB Markets upgraded Dorian LPG from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Wednesday, July 3rd.

Dorian LPG Stock Up 1.6 %

Shares of LPG stock opened at $29.31 on Thursday. The stock’s 50-day simple moving average is $34.45 and its 200-day simple moving average is $39.28. The firm has a market capitalization of $1.25 billion, a PE ratio of 4.97 and a beta of 1.00. Dorian LPG has a fifty-two week low of $28.64 and a fifty-two week high of $51.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 4.58 and a current ratio of 4.22.

Dorian LPG (NYSE:LPG) last released its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17). The business had revenue of $82.40 million during the quarter, compared to analysts’ expectations of $82.40 million. Dorian LPG had a net margin of 47.87% and a return on equity of 23.75%. The firm’s revenue was down 43.1% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. Equities analysts expect that Dorian LPG will post 3.93 earnings per share for the current year.

Dorian LPG Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, November 25th. Shareholders of record on Tuesday, November 5th will be issued a $1.00 dividend. The ex-dividend date is Tuesday, November 5th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LPG. PNC Financial Services Group Inc. raised its position in Dorian LPG by 26.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,821 shares of the shipping company’s stock worth $80,000 after acquiring an additional 379 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Dorian LPG by 8.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 8,126 shares of the shipping company’s stock valued at $313,000 after buying an additional 609 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Dorian LPG by 17.8% in the 1st quarter. BNP Paribas Financial Markets now owns 37,110 shares of the shipping company’s stock worth $1,427,000 after buying an additional 5,611 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Dorian LPG by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,842 shares of the shipping company’s stock worth $1,148,000 after buying an additional 375 shares during the last quarter. Finally, Gallacher Capital Management LLC increased its stake in Dorian LPG by 39.1% during the 1st quarter. Gallacher Capital Management LLC now owns 7,012 shares of the shipping company’s stock worth $270,000 after buying an additional 1,972 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

About Dorian LPG

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.