Dorian LPG Ltd. (NYSE:LPG) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in shares of Dorian LPG Ltd. (NYSE:LPG) by 14.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 197,574 shares of the shipping company’s stock after acquiring an additional 25,343 shares during the period. JPMorgan Chase & Co.’s holdings in Dorian LPG were worth $6,800,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Dorian LPG by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 471,768 shares of the shipping company’s stock worth $16,238,000 after acquiring an additional 34,344 shares in the last quarter. Cynosure Group LLC grew its holdings in Dorian LPG by 248.0% in the third quarter. Cynosure Group LLC now owns 31,655 shares of the shipping company’s stock valued at $1,090,000 after purchasing an additional 22,560 shares during the period. Empowered Funds LLC increased its position in shares of Dorian LPG by 52.2% in the third quarter. Empowered Funds LLC now owns 290,445 shares of the shipping company’s stock valued at $9,997,000 after buying an additional 99,650 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Dorian LPG during the 3rd quarter worth approximately $2,238,000. Finally, Pacer Advisors Inc. lifted its position in shares of Dorian LPG by 11.5% during the 3rd quarter. Pacer Advisors Inc. now owns 3,416,004 shares of the shipping company’s stock valued at $117,579,000 after buying an additional 352,453 shares in the last quarter. Hedge funds and other institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “buy” rating and issued a $42.00 price target on shares of Dorian LPG in a report on Thursday, October 31st.

Dorian LPG Trading Up 0.5 %

Shares of Dorian LPG stock opened at $26.99 on Thursday. Dorian LPG Ltd. has a twelve month low of $22.46 and a twelve month high of $51.66. The firm’s 50-day moving average price is $24.88 and its 200 day moving average price is $32.38. The company has a current ratio of 4.22, a quick ratio of 4.20 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.16 billion, a PE ratio of 4.57 and a beta of 0.93.

Dorian LPG (NYSE:LPG) last issued its quarterly earnings results on Thursday, October 31st. The shipping company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.17). Dorian LPG had a return on equity of 23.75% and a net margin of 47.87%. The firm had revenue of $82.40 million during the quarter, compared to analyst estimates of $82.40 million. During the same period in the prior year, the firm earned $1.85 earnings per share. The business’s revenue was down 43.1% on a year-over-year basis. On average, sell-side analysts predict that Dorian LPG Ltd. will post 3.45 EPS for the current fiscal year.

Dorian LPG Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, November 25th. Stockholders of record on Tuesday, November 5th were given a $1.00 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. Dorian LPG’s dividend payout ratio (DPR) is 16.95%.

Dorian LPG Company 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.