HighTower Advisors LLC Acquires 11,304 Shares of Dorian LPG Ltd. $LPG

HighTower Advisors LLC increased its holdings in shares of Dorian LPG Ltd. (NYSE:LPG) by 75.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 26,288 shares of the shipping company’s stock after purchasing an additional 11,304 shares during the period. HighTower Advisors LLC owned 0.06% of Dorian LPG worth $587,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LPG. Charles Schwab Investment Management Inc. lifted its position in Dorian LPG by 10.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 580,771 shares of the shipping company’s stock worth $12,974,000 after acquiring an additional 56,432 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Dorian LPG by 2.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 449,109 shares of the shipping company’s stock worth $10,945,000 after acquiring an additional 11,550 shares during the last quarter. Northern Trust Corp lifted its position in Dorian LPG by 20.1% during the fourth quarter. Northern Trust Corp now owns 418,569 shares of the shipping company’s stock worth $10,201,000 after acquiring an additional 70,046 shares during the last quarter. Focus Partners Wealth lifted its position in Dorian LPG by 9.1% during the fourth quarter. Focus Partners Wealth now owns 248,650 shares of the shipping company’s stock worth $6,060,000 after acquiring an additional 20,830 shares during the last quarter. Finally, Sparta 24 Ltd. acquired a new stake in Dorian LPG during the first quarter worth approximately $5,036,000. Institutional investors own 62.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dorian LPG Stock Performance

LPG opened at $31.99 on Friday. The firm has a market cap of $1.36 billion, a P/E ratio of 27.81 and a beta of 0.77. Dorian LPG Ltd. has a 52-week low of $16.66 and a 52-week high of $39.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.30 and a current ratio of 3.32. The business’s fifty day moving average is $28.72 and its 200-day moving average is $24.20.

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

Dorian LPG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend was Tuesday, August 12th.

Dorian LPG 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.