Public Employees Retirement System of Ohio Buys New Stake in BW LPG Limited $BWLP

Public Employees Retirement System of Ohio purchased a new position in shares of BW LPG Limited (NYSE:BWLP) in the second quarter, HoldingsChannel reports. The institutional investor purchased 207,907 shares of the company’s stock, valued at approximately $3,626,000.

Several other large investors have also recently added to or reduced their stakes in BWLP. Corient Private Wealth LP purchased a new position in BW LPG in the second quarter valued at about $335,000. Bank of America Corp DE purchased a new stake in shares of BW LPG in the second quarter worth about $6,218,000. PDT Partners LLC acquired a new stake in shares of BW LPG in the second quarter valued at about $1,467,000. Legal & General Group Plc purchased a new stake in shares of BW LPG during the 2nd quarter valued at about $2,211,000. Finally, The Manufacturers Life Insurance Company acquired a new position in BW LPG during the 2nd quarter worth approximately $6,073,000.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BWLP. Dnb Carnegie raised shares of BW LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen downgraded shares of BW LPG from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of BW LPG from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, July 15th. Clarkson Capital raised shares of BW LPG from a “neutral” rating to a “buy” rating in a research note on Thursday, August 20th. Finally, Pareto Securities lowered shares of BW LPG from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, BW LPG has a consensus rating of “Moderate Buy”.

BW LPG Price Performance

BWLP stock opened at $24.57 on Friday. The stock’s 50 day moving average is $21.52 and its two-hundred day moving average is $19.64. BW LPG Limited has a 52-week low of $11.72 and a 52-week high of $25.48. The company has a market capitalization of $3.72 billion, a PE ratio of 8.36 and a beta of 0.99. The company has a quick ratio of 1.29, a current ratio of 1.44 and a debt-to-equity ratio of 0.32.

BW LPG (NYSE:BWLP) last released its earnings results on Saturday, August 29th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.38). The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $318.01 million. BW LPG had a net margin of 12.64% and a return on equity of 22.48%.

BW LPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $8.8914 per share. This is a positive change from BW LPG’s previous quarterly dividend of $6.20. The ex-dividend date is Tuesday, September 8th. This represents a $35.57 dividend on an annualized basis and a yield of 144.8%. BW LPG’s payout ratio is currently 91.16%.

About BW LPG

BW LPG (NYSE: BWLP) is a pure‐play owner and operator of liquefied petroleum gas (LPG) carriers. The company’s core business centers on the maritime transportation of LPG, predominantly propane and butane, under both time‐ and voyage‐charter arrangements. Its fleet comprises pressurized and semi‐refrigerated vessels designed to meet the specific requirements of LPG producers, traders and end‐users around the world.

Headquartered in Singapore, BW LPG serves a global customer base, with commercial offices in key energy hubs including Houston, London, Dubai and Tokyo.