Millennium Management LLC Buys 971,419 Shares of Dorian LPG Ltd. $LPG

Millennium Management LLC lifted its stake in shares of Dorian LPG Ltd. (NYSE:LPG) by 3,728.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 997,470 shares of the shipping company’s stock after acquiring an additional 971,419 shares during the period. Millennium Management LLC owned approximately 2.33% of Dorian LPG worth $22,283,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LPG. Sparta 24 Ltd. bought a new stake in shares of Dorian LPG during the 1st quarter worth $5,036,000. Voloridge Investment Management LLC bought a new stake in shares of Dorian LPG during the 4th quarter worth $4,669,000. American Century Companies Inc. lifted its holdings in shares of Dorian LPG by 8.0% during the 1st quarter. American Century Companies Inc. now owns 1,460,840 shares of the shipping company’s stock worth $32,635,000 after acquiring an additional 108,769 shares during the last quarter. Teza Capital Management LLC lifted its holdings in shares of Dorian LPG by 1,025.9% during the 4th quarter. Teza Capital Management LLC now owns 102,072 shares of the shipping company’s stock worth $2,487,000 after acquiring an additional 93,006 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Dorian LPG by 147.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 154,814 shares of the shipping company’s stock worth $3,459,000 after acquiring an additional 92,286 shares during the last quarter. 62.50% of the stock is owned by institutional investors.

Dorian LPG Stock Performance

Shares of NYSE:LPG opened at $31.74 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 27.60 and a beta of 0.82. The company has a 50-day moving average price of $29.94 and a 200-day moving average price of $24.80. The company has a current ratio of 3.32, a quick ratio of 3.30 and a debt-to-equity ratio of 0.47. Dorian LPG Ltd. has a 12 month low of $16.66 and a 12 month high of $37.16.

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 net margin of 15.15% and a return on equity of 5.24%. The firm had revenue of $84.21 million for the quarter, compared to the consensus estimate of $86.53 million. During the same period last year, the company posted $1.26 earnings per share. The business’s revenue was down 26.3% on a year-over-year basis. As a group, equities analysts anticipate that Dorian LPG Ltd. will post 2.6 EPS for the current year.

Dorian LPG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 12th were given a dividend of $0.60 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.40 annualized dividend and a dividend yield of 7.6%.

Wall Street Analysts Forecast Growth

LPG has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Dorian LPG from a “sell” rating to a “hold” rating in a report on Sunday, June 1st. Zacks Research downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

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.