IFP Advisors Inc Sells 393 Shares of Dorian LPG Ltd. $LPG

IFP Advisors Inc lowered its stake in Dorian LPG Ltd. (NYSE:LPG) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,521 shares of the shipping company’s stock after selling 393 shares during the quarter. IFP Advisors Inc’s holdings in Dorian LPG were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in Dorian LPG in the 2nd quarter valued at $29,000. NewEdge Advisors LLC raised its stake in shares of Dorian LPG by 1,003.8% in the 1st quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the period. Brooklyn Investment Group lifted its holdings in shares of Dorian LPG by 2,087.8% in the first quarter. Brooklyn Investment Group now owns 1,969 shares of the shipping company’s stock valued at $44,000 after purchasing an additional 1,879 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Dorian LPG by 6,275.0% during the first quarter. Picton Mahoney Asset Management now owns 2,040 shares of the shipping company’s stock worth $46,000 after buying an additional 2,008 shares during the period. Finally, CWM LLC grew its holdings in shares of Dorian LPG by 74.5% during the first quarter. CWM LLC now owns 2,591 shares of the shipping company’s stock worth $58,000 after buying an additional 1,106 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

Insider Buying and Selling

In other news, COO Alexander C. Hadjipateras sold 5,000 shares of Dorian LPG stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $32.38, for a total value of $161,900.00. Following the completion of the transaction, the chief operating officer owned 89,440 shares of the company’s stock, valued at $2,896,067.20. This trade represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 13.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on LPG shares. Zacks Research cut Dorian LPG from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Dorian LPG in a report on Wednesday, October 8th. Finally, Jefferies Financial Group increased their target price on shares of Dorian LPG from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Dorian LPG Stock Down 0.3%

LPG stock opened at $26.62 on Friday. The company has a quick ratio of 3.30, a current ratio of 3.32 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $30.36 and a two-hundred day moving average price of $26.11. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 23.15 and a beta of 0.77. Dorian LPG Ltd. has a twelve month low of $16.66 and a twelve month high of $33.67.

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

Dorian LPG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Tuesday, August 12th were paid a $0.60 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.40 dividend on an annualized basis and a yield of 9.0%.

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.